Asia’s newest billionaires have a problem most people would love to have. Their money is real, but their bank does not always know what to do with it.
Raffles Family Office (RFO), a multi-family office headquartered in Singapore and Hong Kong, wants to be the answer. The firm is courting ultra-high-net-worth clients who hold large piles of stablecoins and other digital assets, a group that traditional private banks have often struggled to serve.
“What if somebody comes with $100 million of stablecoin? You can’t take them to a local bank,” Chi-Man Kwan, founder and CEO of RFO, told Fortune.
A younger, riskier kind of rich
The pitch rests on a demographic shift. Asia’s self-made billionaires are a decade younger than their counterparts in the US and Europe, according to Fortune’s reporting.
Many built their fortunes in tech and crypto. They also tend to carry a bigger appetite for risk than inherited wealth does.
Revo and the licensing push
The centerpiece of that strategy is Revo, RFO’s dedicated digital asset platform. The firm launched Revo Digital Family Office in February 2026.
That same month, Revo received Type 4 and Type 9 licenses from the Hong Kong Securities and Futures Commission (SFC). Those approvals allow it to offer management services for digital asset portfolios next to conventional investments.
Kwan has described stablecoins as the “missing link” between private wealth and crypto markets, a comment he made in June 2026. Demand appears to be there. Kwan has pointed to inquiries about managing holdings as large as 10,000 Bitcoins or $100 million in stablecoins.
A founder with crypto roots
Kwan has more than 12 years of experience in the space, including co-founding what is described as Asia’s first public Bitcoin exchange in 2014.
RFO reported top-line revenue growth of more than 50% in 2025, driven mainly by private equity and stronger investment capabilities.
On October 22, 2026, RFO signed an agreement with the Rwanda Development Board aimed at investment opportunities targeting hundreds of millions. Projects in scope include the Bugesera airport and tourism.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.