Raffles Family Office builds wealth services for Asia's stablecoin fortunes
Raffles Family Office is positioning its digital assets arm to manage wealth held in stablecoins and other cryptocurrencies, as Asia's younger self-made billionaires accumulate fortunes that traditional banks are poorly equipped to accommodate. Chi-Man Kwan, founder and CEO of the Singapore and Hong Kong-headquartered firm, told Fortune that a prospective client arriving with $100 million in stablecoin cannot simply be taken to a local bank, and that even where such clients' assets are US-denominated, they are likely to be held in stablecoins.
The firm launched Revo in 2022, describing it as Asia's first multi-family office focused on digital assets. In February, Revo secured licences from Hong Kong's Securities and Futures Commission allowing it to offer professional portfolio management services for digital assets alongside traditional investments, according to the report.
Kwan's remarks point to a gap between demand and provision. A 2026 survey by fund administration provider Ocorian found that 86% of family-office principals and senior executives are including crypto in their investment strategies, Fortune reported, while Wealth Briefing Asia noted that regulatory and reporting challenges often prevent family offices from fully embracing crypto assets. Kwan said he expects that within a decade people may transact mostly in stablecoins, and asked whether wealth managers and family offices are ready.
Raffles Family Office serves high-net-worth individuals across six Asian cities: Beijing, Shanghai, Singapore, Hong Kong, Taipei and Bangkok. Its expansion has also extended to Africa. In March the firm co-hosted the inaugural Rwanda Family Office Symposium with bodies including the Rwanda Development Board and the Kigali International Financial Center, and it later appointed former Rwandan minister of state for infrastructure Jean de Dieu Uwihanganye as principal of emerging markets and business development. On 22 October it signed a strategic capital mobilisation agreement with the Rwanda Development Board aimed at expanding private sector participation in the country, the report said.
Citing the 2026 Hurun Global Rich List, Fortune reported that 1,110 of the world's 4,020 billionaires are from China, ahead of 1,000 in the United States. Kwan said Chinese entrepreneurs taking private companies public in the early 2010s became billionaires almost overnight and turned Hong Kong's wealth management sector upside down, and that catering to a billionaire in their mid-thirties requires a different approach from legacy planning for clients in their fifties and sixties.
