From Huobi to HTX
A prominent cryptocurrency exchange, Huobi has rebranded to HTX. This transformation signifies an important step as the
company marks ten years in the industry, bringing together Huobi’s mission,
TRON token, and the essence of a crypto exchange.
The rebranding choice of
“HTX” carries significance, the exchange explained. Breaking it down, “H” pays
homage to Huobi, “T” symbolizes TRON, and “X” represents the essence of an exchange. This combination of “HT”
and “X” depicts HT as the platform’s native cryptocurrency, while “X” represents
the Roman numeral for 10, acknowledging HTX’s ten years in the industry.
Twitter Space Alert!
A New Chapter of #Huobi
Unveiling the Future: #Huobi‘s Brand Upgrade to #HTXJoin us tmr at 8pm SGT
🎤@33Huobi @99HTX_Set Your Reminder:https://t.co/d1bxqOVqtU pic.twitter.com/APx9y0zHPi
— HTX (@HTX_Global) September 13, 2023
“HTX’s new mission
is to build a metaverse-free port with a vision to achieve financial freedom
for 8 [billion] people on Earth,” the exchange said. “HTX is
embarking on a growth strategy of global expansion, thriving ecosystem, wealth
effect, security, and compliance.”
Beyond rebranding, HTX’s
listing strategy entered a new phase, with a focus on expanding its ecosystem
through the introduction of new assets. The company is committed to empowering
the community to decide which assets to list, welcoming premium and popular
projects from across the globe.
In addition, HTX plans
to partner with public chains, cross-chain protocols, and stablecoin projects.
The exchange emphasized promoting sustainable growth of decentralization while
mitigating risks associated with centralized crypto trading. These efforts
involve distributing user assets through a decentralized custody system backed
by 24/7 customer support.
Challenges and Global
Expansion
Last month, HTX faced a
difficult experience, shedding
$500 million in market value, after
rumors regarding the arrest of its leadership in China and alleged insolvency
went around. Amid the claims, concerns regarding the financial health of Huobi
emerged, seemingly tied to the devaluation of stablecoin Tether (USDT).
While Huobi has vehemently
denied these rumors and insolvency concerns, the company experienced
regulatory concerns in
Malaysia in May. This led to the shutdown of its operations over allegations it
was operating without proper registration. Additionally, its website and
mobile application were blocked in the country.
However, Huobi continues
to expand its operations in other regions. In February, the exchange’s Hong
Kong subsidiary introduced
cryptocurrency spot trading and
virtual asset custody services. This expansion is part of Huobi’s plan to secure a virtual asset
exchange license from the Hong Kong Securities and Futures Commission.
A prominent cryptocurrency exchange, Huobi has rebranded to HTX. This transformation signifies an important step as the
company marks ten years in the industry, bringing together Huobi’s mission,
TRON token, and the essence of a crypto exchange.
The rebranding choice of
“HTX” carries significance, the exchange explained. Breaking it down, “H” pays
homage to Huobi, “T” symbolizes TRON, and “X” represents the essence of an exchange. This combination of “HT”
and “X” depicts HT as the platform’s native cryptocurrency, while “X” represents
the Roman numeral for 10, acknowledging HTX’s ten years in the industry.
Twitter Space Alert!
A New Chapter of #Huobi
Unveiling the Future: #Huobi‘s Brand Upgrade to #HTXJoin us tmr at 8pm SGT
🎤@33Huobi @99HTX_Set Your Reminder:https://t.co/d1bxqOVqtU pic.twitter.com/APx9y0zHPi
— HTX (@HTX_Global) September 13, 2023
“HTX’s new mission
is to build a metaverse-free port with a vision to achieve financial freedom
for 8 [billion] people on Earth,” the exchange said. “HTX is
embarking on a growth strategy of global expansion, thriving ecosystem, wealth
effect, security, and compliance.”
Beyond rebranding, HTX’s
listing strategy entered a new phase, with a focus on expanding its ecosystem
through the introduction of new assets. The company is committed to empowering
the community to decide which assets to list, welcoming premium and popular
projects from across the globe.
In addition, HTX plans
to partner with public chains, cross-chain protocols, and stablecoin projects.
The exchange emphasized promoting sustainable growth of decentralization while
mitigating risks associated with centralized crypto trading. These efforts
involve distributing user assets through a decentralized custody system backed
by 24/7 customer support.
Challenges and Global
Expansion
Last month, HTX faced a
difficult experience, shedding
$500 million in market value, after
rumors regarding the arrest of its leadership in China and alleged insolvency
went around. Amid the claims, concerns regarding the financial health of Huobi
emerged, seemingly tied to the devaluation of stablecoin Tether (USDT).
While Huobi has vehemently
denied these rumors and insolvency concerns, the company experienced
regulatory concerns in
Malaysia in May. This led to the shutdown of its operations over allegations it
was operating without proper registration. Additionally, its website and
mobile application were blocked in the country.
However, Huobi continues
to expand its operations in other regions. In February, the exchange’s Hong
Kong subsidiary introduced
cryptocurrency spot trading and
virtual asset custody services. This expansion is part of Huobi’s plan to secure a virtual asset
exchange license from the Hong Kong Securities and Futures Commission.
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