Raffles Family Office is building a wealth manager for Asia’s stablecoin billionaires

Raffles Family Office is positioning itself to serve Asia's younger, self-made billionaires, who are roughly a decade younger than their American and European peers and typically built fortunes in technology and crypto. According to Fortune, founder and CEO Chi-Man Kwan says these clients hold larger risk appetites and are more likely to store wealth on-chain in currencies such as Bitcoin and Ethereum. Kwan argues that even U.S.-dollar-denominated assets are likely to be held in stablecoins, and that most traditional-finance institutions do not accommodate such holdings. "What if somebody comes with $100 million of stablecoin? You can't take them to a local bank," he said.

RFO launched Revo in 2022 as Asia's first digital assets-focused multi-family office. In February, Revo received licenses from Hong Kong's Securities and Futures Commission allowing it to offer professional portfolio management for digital assets alongside traditional investments. Fortune cites a 2026 survey by fund administrator Ocorian finding that 86% of family-office principals and senior executives include crypto in their strategies. Wealth Briefing Asia notes that regulatory and reporting challenges often prevent family offices from fully embracing crypto.

The firm's client base reflects rapid billionaire creation in Greater China. Kwan, who previously served Chinese clients at Standard Chartered and BNP Paribas, recalled that by the early 2010s many entrepreneurs were taking private companies public and becoming billionaires quickly, reshaping Hong Kong's wealth management sector. RFO now serves high-net-worth individuals across Beijing, Shanghai, Singapore, Hong Kong, Taipei and Bangkok. Citing Boston Consulting Group, Fortune reports global offshore financial wealth rose 8.4% to $15.7 trillion in 2025.

RFO is also expanding into Africa. In March it co-hosted the inaugural Rwanda Family Office Symposium with the Rwanda Development Board and the Kigali International Financial Center. In the past month, Kwan appointed former Rwandan Minister of State for Infrastructure Jean de Dieu Uwihanganye as principal of emerging markets and business development to direct Asia-Africa investment flows. On Oct. 22, RFO signed a strategic capital mobilization agreement with the RDB aimed at expanding private sector participation in Rwanda. Kwan projects that Africa could account for roughly a quarter of the world's population by 2050 and may eventually outpace Asia as the fastest-growing continent.