Raffles Family Office and Huobi partners to begin Asia's first digital assets-based multi-family office
Pan-Asian wealth manager and global cryptocurrency technology provider to address unmet digital asset management requires ultra-high net worth families.
Raffles Family Office (Raffles FO) has announced the signing of a cooperation agreement with Hong Kong-listed Huobi Technology Holdings (Huobi Tech; Stock Code: 1611.HK) that will witness the two combine their respective strengths to create 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 ongoing operational and technology development role under the deal.
Raffles Family Office Group CEO Chi-man Kwan said:“For too long now, Asia’s private wealth management industry has turned its back on those that wish to grow, retain and pass down wealth through digital assets. 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.We are grateful to not only have Huobi Tech as an investor but as a strategic partner, and look forward to unveiling the service offerings we will be creating together over the coming months.”
The new company will initially provide ultra-high net worth individuals with access to cryptocurrency-based investments and related advice, as well as add-on 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.
Huobi Technology Holdings CEO Simon Wu said:"Digital assets are playing an increasingly important role in the global economy and are well on their way to becoming a mainstream investment vehicle, particularly for those in the high net worth and ultra-high net worth segments where interest in them continues to be on the rise. Despite this, however, the digital assets sector has yet to sufficiently cater to these individuals, who tend to expect and require more holistic services. Our new venture with Raffles Family Office, a proven disruptor in Asia’s private wealth management sector, will help address that gap."
The collaboration, which will initially but not exclusively centre on creating an Asia-focused platform, comes on the heels of encouraging data from the latest Raffles FO-backed Global Family Office Survey conducted by Campden Wealth. Findings from the poll, which remains the world’s largest survey of single-family offices (SFOs), showed that 53% of Asia-Pacific (APAC) respondents view cryptocurrency as a promising investment – a notably higher share than that for SFO respondents in Europe (33%) and North America (43%). The survey additionally 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%).