Cryptocurrency exchange Huobi has rebranded its trading platform to coincide with its tenth anniversary. The new name, HTX, has already been called by commentators on the exchange’s social networks to be too similar to FTX.

The HTX (Huobi) team rejected comparisons with the collapsed exchange and said the rebranding was part of the company’s global expansion plan.

“Looking at HTX through the combination of HT and X, HT represents the platform’s native token and X symbolizes the exchange. Where “H” stands for Huobi, “T” stands for TRON, and “X” stands for the exchange. Therefore, it is an exchange with its own HT token on the Tron network. The name change symbolizes the beginning of a new era for the platform with the synergy of HTX, TRON and Poloniex,” representatives of the trading platform commented on the name change.

The official announcement of the rebranding states that the exchange is embarking on a growth strategy based on “global expansion, thriving ecosystem, wealth effect, security and compliance.” We are talking about expanding the product line, including PrimeVote, Flexi Max, Shark Fin. HTX promises to focus on developing a multi-dimensional business ecosystem and strategic cooperation with public networks such as TRON, cross-chain protocols such as BitTorrent Chain, and stablecoins such as TrueUSD.

Earlier, the cryptocurrency platform for trading crypto derivatives and copy trading Bitget announced its rebranding. The rebranding of the site pursues the goal of “strengthening its leadership position in the field of innovative trading products.”