Crypto Exchange Huobi Announces Its Rebrand to HTX

Singapore-based crypto trading platform Huobi announced that it has rebranded to a new global brand, HTX.

In a letter to its users on September 13, the crypto exchange explained the inspiration for the new brand name, stating that "'H'stands for Huobi, 'T' represents TRON with a commitment to being all in TRON, and 'X' stands for the exchange. Looking at HTX through the combination of HT and X, HT represents the native token of the platform while X symbolizes the exchange. Hence, HTX is an exchange with its native token of HT. On the other hand, X is the Roman numeral for 10, which pays tributes to HTX's 10th anniversary."

As part of its rebranding effort, HTX intends to "to expand business globally by venturing into new markets with promising prospects across various countries and regions while maintaining a balanced growth". It will also "continue to expand partnerships with different projects, public chains, stablecoins, and foster a multi-dimensional business ecosystem through collaborative efforts."

This is another rebranding of the crypto exchange following its name change in November of last year​. In addition, just in last month, the company had been hit with outflows totaling a staggering $64 million​, leading to suspicions of its potential bankruptcy.