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HTX started as a modest venture in 2013, ascended to become the largest cryptocurrency exchange in the Chinese market by 2017, and eventually withdrew from Mainland China in 2021. The previous decade has witnessed the ebbs and flows of the global crypto industry, especially within China, and has also seen HTX experience both moments of success and challenges.
As we step into a new decade, HTX initiates the next leg of its decade-long journey with a brand revamp.
Rebranding: From Huobi to HTX
During the TOKEN2049 event's Afterparty, jointly hosted by HTX and TRON, Justin Sun, a member of the HTX Global Advisory Board, made a historic announcement: Huobi's global brand is officially evolving into HTX.
As stated by a spokesperson from HTX, the letter "H" signifies Huobi and carries forward the legacy of Huobi, while "T" symbolizes TRON, signifying their commitment to further develop within the TRON ecosystem. Additionally, "X" represents the exchange itself. Alternatively, "HT" also represents the native platform token on the exchange, known as HTX Token. Therefore, the name "HTX" can also be interpreted as the trading platform for HT.
Regarding the "X", Justin Sun explained it as follows: "As a Roman numeral, X represents 10, signifying HTX's 10-year journey and paying tribute to our 10th anniversary. It also symbolizes a new era for the platform, which gears up to become something more through the synergy within the ecosystem of HTX, TRON, and Poloniex."
The decision to undergo a rebrand was not hasty; it represents more than just a name change. It reflects HTX's commitment to embark on a global expansion chapter after a revitalization. With the ever-changing exchange landscape and the strengthening trends of globalization and decentralization in the crypto market, HTX believes a rebrand is paramount to achieving its mission, as highlighted by Justin Sun.
Expanding Global Presence and Diversifying Product Offerings
Following the rebrand, HTX will embark on a new journey to focus on "global expansion, ecosystem enrichment, wealth effect, and security and compliance". Specifically, this strategic plan covers two main areas: expanding its global reach and diversifying its product offerings to achieve global expansion in a coordinated manner.
HTX places a strong emphasis on key regions, active exploration of potential markets, maintenance of balanced growth across various countries, and strategic expansion of its global reach. In this regard, Hong Kong serves as a prime example of this strategy. Earlier this year, HTX made significant strides in Hong Kong. In April, the HTX Night event was held during the Hong Kong Web3 Carnival, featuring Justin Sun as a keynote speaker. Moreover, in late May, Hong Kong witnessed the establishment of the pioneering crypto rating agency HKVAC, with HTX proudly becoming its inaugural exchange member. Its evident that HTX's presence in Hong Kong is steadily gaining momentum.
Beyond Hong Kong, HTX continues to make significant strides in strengthening compliance efforts across various countries and regions, such as Gibraltar, Lithuania, Dubai, BVI, Australia, and others. HTX is diligently working to obtain licenses and establish compliance infrastructure in these locations. Additionally, in June, HTX's Mars Program ventured into uncharted territory, designed to push the boundaries of cryptocurrency adoption, even extending its reach to the vast realm of space.
In tandem with its global expansion efforts, HTX is dedicated to diversifying its product offerings, introducing top-quality assets from various ecosystems, including Layer-1, Layer-2, and meme coin projects. Meanwhile, with products like PrimeVote, Flexi Max, and Shark Fin as a foundation, HTX aims to continue providing an all-encompassing platform covering spot trading, derivatives trading, wealth management, asset management, etc. What sets HTX apart is its competitive edge, well-aligned with the TRON blockchain, which hosts billions of USDT and a massive user base. This brings together the synergy of an exchange, public blockchain, and stablecoin, resulting in a "1+1>2" effect.
It is also important to note the contributions HTX has made to increase the broader acceptance of cryptocurrency. Lucky users from the HTX Mars Program during HTX's 10th-anniversary celebrations included a multitude of prizes. The prizes include a chance to compete with shortlisted space candidates for a coveted $6 million space travel, a round trip experience on a Gulfstream private jet, and the latest Tesla Model 3 (distributed in the form of 20,000 USDT and 20,000 USDT in future trial bonuses). HTX aims to attract more users and bring them into the cryptocurrency realm by offering a variety of campaigns with attractive rewards.
Again, HTX remains dedicated to catering to users' trading needs within the mainstream crypto ecosystem while venturing into emerging sectors simultaneously to discover additional wealth opportunities for its users. This approach not only addresses users' essential requirements in the present crypto market but also aligns with its post-rebranding vision: "Enabling Financial Freedom for All 8 Billion People on Earth."
Summary
Over a decade, the cryptocurrency industry has undergone a series of transformations, transitioning from fundamental concepts to the creation of foundational technologies and subsequently evolving into the refinement and advancement of practical applications. Throughout this remarkable journey, we have witnessed the emergence of diverse new sectors and projects at various stages of the cryptocurrency market's evolution. These include DeFi derivatives, Layer2 solutions, DIDs, GameFi, NFT liquidity, cross-chain protocols, non-custodial wallets, DAOs, and more. The cryptocurrency industry and its participants have consistently demonstrated their value over the period of more than ten years.
With the ongoing innovation of business models, the maturation of products, and new narratives, the crypto market is well-positioned to benefit from the next significant wave of opportunities. HTX is also ready to reaffirm its position in this evolving landscape.
Embracing the rebranded name HTX as its new identity, the exchange will strategically push for globalization, actively promote regulatory compliance and product innovation, and embark on its ambitious plan for the next decade.
About HTX
Founded in 2013, HTX has evolved from a crypto exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investment, incubation and other areas. HTX serves millions of users worldwide, with a business presence covering over 160 countries and regions across five continents. Its three development strategies – "global development, technology drives development, and technology for good" underpin its commitment to providing comprehensive services and values to global cryptocurrency enthusiasts.
Contact Details
Michael Wang
Company Website
View source version on newsdirect.com: https://newsdirect.com/news/huobi-global-rebrands-to-htx-embarking-on-a-new-journey-to-the-next-decade-923127709
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COMTEX_440992419/2655/2023-09-26T13:56:59
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