Huobi’s Global Expansion Plans with HTX Brand
Cryptocurrency exchange Huobi has launched its new international brand, HTX, as part of its global expansion strategy. Huobi aims to apply for more licenses in various jurisdictions over the next decade. Justin Sun, a global advisor to Huobi, announced this plan at a media briefing in Singapore. HTX will serve as Huobi’s international brand catering to its English-speaking user base.
Huobi is determined to grow beyond being a “Chinese-dominated” exchange and has already obtained seven licenses worldwide. The company has collaborated with governments in Lithuania, Dubai, Australia, Argentina, Brazil, and other Latin American countries to launch compliant crypto exchanges in these regions.
To better cater to international audiences, Huobi rebranded as HTX since it was challenging for foreigners to pronounce “Huobi.” However, the Huobi brand will still be used for Chinese-speaking regions.
Global Ambitions
Huobi acknowledges that its previous attempts at global expansion were not as successful as those of other China-born exchanges like Binance. Justin Sun attributes this to better branding strategies by competitors. Despite this setback, Huobi has maintained a strong track record with zero incidents since its establishment in 2013. The team at Huobi is highly selective when it comes to listing new tokens on the exchange.
In the future, HTX plans to engage more with users by allowing them to vote on which crypto projects should be listed on the exchange. This approach aims to democratize the listing process and involve the community in decision-making.
Hot Take: Huobi’s HTX Brand Aims for Global Expansion
Huobi’s launch of the HTX brand marks its commitment to expanding globally and serving English-speaking users. By obtaining licenses in multiple jurisdictions, Huobi aims to establish compliant crypto exchanges around the world. Rebranding as HTX will help Huobi resonate better with international audiences. While previous attempts at global expansion were not as successful as desired, Huobi plans to learn from competitors like Binance and improve its branding strategies.
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