Raffles Family Office (FO) has signed a cooperation agreement with Hong Kong-listed Huobi Technology Holdings to build a wealth management platform for ultra-high net worth families with an interest or existing holdings in digital assets.
As part of the agreement, Huobi Tech has made a strategic investment in a Raffles FO venture company established to serve as the launchpad for the platform. Huobi Tech will also play an operational and technology development role under the deal.
Raffles FO is a multi-family office headquartered in Hong Kong and has branch offices in several Asian financial centres, including Singapore, Shanghai, Beijing and Taipei.
“Our soon-to-be-launched platform, which will combine Huobi Tech’s cryptocurrency know-how with Raffles Family Office’s expertise in wealth management for the ultra-high net worth segment, will be a force for change and a telling showcase of what the multi-family office of the future might look like,” said Raffles Family Office Group CEO Chi-man Kwan, in a statement.
The new company will initially offer wealthy individuals access to cryptocurrency-based investments and advice, as well as services, such as wallet consolidation, succession planning counsel, and family governance solutions.
Future offerings will include artificial intelligence-based safety protocols, integrated fiat-cryptocurrency dashboards and unique interoperability features that afford access to a wider range of digital assets.
Asia demand
The partnership will initially centre on creating an Asia-focused platform.
Findings from a poll by Raffles FO-backed Global Family Office Survey conducted by Campden Wealth, showed that 53% of Asia Pacific (Apac) respondents view cryptocurrency as a promising investment – a notably higher share than that for single family office (SFO) respondents in Europe (33%) and North America (43%).
The survey also found that one-third of Apac SFOs plan to increase their investments in cryptocurrency through 2022. This figure also trumped those for SFOs interviewed in Europe (17%) and North America (30%).
