Raffles Family Office (RFO), a multi-family office headquartered in Singapore and Hong Kong, is targeting Asia's ultra-high-net-worth individuals who hold substantial digital assets, a demographic that traditional private banks have struggled to serve.
The firm's strategy centers on a demographic shift in Asia's wealth landscape. Self-made billionaires in the region are approximately a decade younger than their counterparts in the US and Europe, with many having built their fortunes in technology and cryptocurrency sectors. These individuals tend to carry a larger appetite for risk than those with inherited wealth.
RFO's centerpiece offering is Revo, a dedicated digital asset platform launched in February 2026. That same month, Revo received Type 4 and Type 9 licenses from the Hong Kong Securities and Futures Commission, authorizing it to offer management services for digital asset portfolios alongside conventional investments.
Chi-Man Kwan, founder and CEO of RFO, noted the challenge of serving clients with substantial stablecoin holdings, stating that traditional banking infrastructure is ill-equipped to handle such transactions. Kwan has characterized stablecoins as the "missing link" between private wealth and crypto markets, citing inquiries about managing holdings as large as 10,000 bitcoins or $100 million in stablecoins.
Kwan brings over 12 years of experience in the digital asset space, including co-founding what is described as Asia's first public Bitcoin exchange in 2014. RFO reported top-line revenue growth exceeding 50% in 2025, driven primarily by private equity and strengthened investment capabilities.
In October 2026, RFO signed an agreement with the Rwanda Development Board to explore investment opportunities targeting hundreds of millions of dollars, including projects such as the Bugesera airport and tourism development.
