While FTX’s meltdown has prompted every move to take an unfortunate turn, Huobi has rebranded to reshape its focus as part of its global expansion efforts, unveiling a roadmap. From now on, “Huobi Global” will simply be known as “Huobi”.
Huobi is preparing to onboard users from even more regions including Southeast Asia, Europe and other regions that offer strong growth potential for its user base.
It seems Huobi has initiated a rejuvenation phase to sustain in such tougher market conditions and prepare itself for the next potential bull market. Also, Huobi is planning to recruit world-class talents in blockchain and virtual assets.
Nevertheless, the recent market meltdown due to the FTX crash hasn’t spared Huobi as it has $18 million worth of exposure in the now-bankrupt FTX. The worsened condition concerned Justin Sun who recently acquired Huobi to put together a solution with FTX to initiate a pathway forward in the current market situation.
Justin Sun also stated in a recent tweet that Huobi’s rebranding will focus on three rebranding strategies including Global development, Technology-driven progress, and Science for Good Future. “Huobi will serve from its heart in providing professional services to global users and work with the industry to build a global Web3.” He added.
However, the initiative is aimed at enhancing asset safety and promoting financial inclusion. Huobi also plans on more digital asset listings as well as expanding its international footprint by setting up physical ventures. This can potentially enhance the utility of the Huobi Token (HT) as the exchange plans to prioritize it as a trading pair in its new listing.