Crypto: Huobi becomes HTX for better… adoption?

Farewell Huobi and make way for HTX! The crypto exchange platform changes its name and aims for other heights. While many Asian exchanges are expanding at lightning speed around the world, Justin Sun believes he has found the solution to compete with the biggest. It’s time for a makeover!

In short :

  • Huobi, which has long been hot and cold in the crypto ecosystem, changes its name to HTX for its international customers
  • This branding should give a new perspective to the exchange which is struggling to reach the same heights as other Chinese platforms, notably Binance

From Huobi to HTX, Justin Sun sees big for the exchange

Many exchanges are standing out in the crypto market, but Huobi seems to be stagnating. While its Asian counterparts are forging ahead, the company has struggled to achieve the same success. One might believe that it is the fault of the turbulence which shook the platform, but there is a completely different reason, and that is its name.

According to Justin Sun, the CEO of the exchange, it faces adoption difficulties around the world because of its name which is difficult to pronounce in other countries. Therefore, room for change and ease, room for HTX.

The crypto exchange platform has announcement Wednesday that it was rebranding itself, and would henceforth be called HTX. This decision is the result of a long reflection, since it should prove favorable in the long term. If Huobi, which means fire and corner in Chinese, makes no sense in English, this change should be easier to pronounce.

An excessive ambition for the good of crypto

Huobi suffered the pangs of the downtrend. However, Justin Sun believes it should enjoy better adoption, just like Binance. According to him, if the CZ crypto exchange works so well, it is because of its branding. Therefore, it is time to update and HTX should promote mass adoption in Anglo-Saxon countries.

Currently, the platform collaborates with many governments, including Brazil, Lithuania, Argentina, Dubai and Australia. But that doesn’t seem to be enough. It must be said that between the drop in liquidity at the start of the year and the arrest of certain managers, the road has not been easy.

Despite the difficulties facing the crypto exchange platform, Justin Sun is convinced that this name change should facilitate its global adoption. Many times Huobi has defied the odds and is holding its own, with no desire to stop.

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