Raffles Family Office Targets Asia's Newly Wealthy in Crypto, Provides Wealth Management Services for Substantial Stablecoin Holdings

According to Fortune, Singapore and Hong Kong-based Raffles Family Office (RFO) is developing wealth management services better suited for stablecoin holders for Asia's new generation of crypto-asset billionaires. RFO founder and CEO Chi-Man Kwan noted that the traditional private banking system continues to face significant limitations in managing large-scale stablecoin wealth. For instance, clients holding $100 million in stablecoins are typically unable to execute traditional wealth management allocations directly through local banks. The report highlights that a considerable portion of the wealth among Asia's new-generation billionaires originates from the tech and crypto industries. Compared to traditional "old money" groups in Europe and North America, this demographic is notably younger and exhibits a higher risk appetite, driving wealth management institutions to accelerate adjustments to their products and services to better cater to the needs of crypto-asset investors.