This fall, the company’s management changed. Hong Kong-based company About Capital bought a controlling stake in the Huobi exchange. Later this year, Justin Sun, founder of Tron blockchain, revealed himself as Huobi’s new owner. Now the company is up to broadening its horizons, starting with a rebranding.
Related: Justin Sun admits to owning Huobi
Today, the exchange team came with an official announcement highlighting the aim for global expansion. Starting with a new name, the company has decided to change “Global Huobi” to “Huobi.”
As for the Chinese spelling, Huobi states:
The new name consists of two Chinese characters“火” and “必”. The first one represents perpetual vitality and the passing of the same vitality on to future generations in Chinese culture. The second one means the determination to win, which represents our ambition to return to the top 3 exchanges of the industry.
Previously, the name of the exchange consisted of hieroglyphs, which are translated as “righteousness” and “science.” The new name should strengthen the connection between the business and its users.
According to the company’s roadmap, Huobi plans to list more digital assets and physical businesses as the company, which has several global offices, seeks to expand its international presence.
After the rebranding, Huobi will work to strengthen its brand and give full play to the important strategic attributes of HT. With the latter at the heart of its business strategy, Huobi will continue to explore high-quality projects in the market through HT voting for listings.
The company once again stressed an aim to strengthen its position in the Caribbean, “which is well-positioned as a virtual assets hub with its welcoming regulatory stance, standard law systems, and the use of English language”. Justin Sun might influence this decision. As of 2021, he became an ambassador to the World Trade Organization in Grenada, the Caribbean island state.
Huobi also intends to increase investment in Southeast Asia and Europe. For this purpose, the company will study the prospects and potential opportunities from mergers and acquisitions. The possible partners were not disclosed.
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