Crypto exchange Huobi carried out a large-scale rebranding in honor of the tenth anniversary of its opening, as part of which it changed its name to HTX and presented a new project roadmap.
According to the statement, the “H” in the name stands for Huobi, the “T” symbolizes the TRON blockchain, and the “X” stands for the exchange. The platform also has a new slogan: “HTX, Just Trade It.”
“HTX’s mission is to create a free port of the metaverse with the goal of achieving financial freedom for the 8 billion people on Earth. We are embarking on a growth strategy based on global expansion, a thriving ecosystem, the wealth effect, and security and compliance,” the press release said.
The cryptocurrency exchange plans to expand its business globally, entering new markets with “promising prospects in various countries and regions.”
HTX will strategically partner with public networks like TRON, cross-chain protocols like BitTorrent Chain, and stablecoins like TrueUSD.
The trading platform will also focus on layer 2 protocols and meme tokens. The exchange management promised to issue reserve confirmation reports on a regular basis.
In November 2022, the media reported a possible merger between Huobi and Poloniex, which TRON co-founder Justin Sun and a group of investors bought in 2019. The entrepreneur denied the rumors, but did not rule out similar developments in the future. The platforms later established a strategic partnership.
Let us recall that in August 2023, Sun admitted that the company was unprofitable. Over the past four quarters, Huobi has failed to post a net profit.
That same month, the platform experienced an outflow of funds amid rumors of insolvency, reducing the total value of locked assets by almost $54 million.
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