Hong Kong-based Raffles Family Office (Raffles FO) announced Thursday the launch of Revo Digital Family Office (Revo DFO), the first-of-its-kind in Asia that enables ultra-high net worth (UHNW) families to access and invest in digital assets from a consolidated wealth management platform.
This next-generation platform is built on Raffles FO’s expertise and track record in servicing the UHNW segment, and Hong Kong-listed Huobi Technology Holdings’ industry-leading technology and in-depth knowhow, Raffles FO said in a statement.
According to the statement, in Asia, three in four wealthy investors are interested in digital assets, with over half already investing in this emerging asset class. Blockchain technology is also well poised to revamp legacy systems and processes in wealth management with better security and efficiency.
Nevertheless, most wealth management firms in Asia are not equipped to meet the growing appetite for digital assets, and the majority (67 percent) do not have a strategic plan to navigate the evolving landscape.
“The growing interest in digital assets shown by UHNW investors in Asia presents new opportunities for the wealth management industry, but it is at risk of being overlooked and underserved,” said Revo DFO Chief Executive Officer Ray Tam.
According to him, Revo DFO is designed with the needs of both traditional and digital asset wealth holders in mind, aiming to serve as the bridge and spur connectivity among partners across both traditional and digital assets in a unified ecosystem.
The platform will support cryptocurrencies and digital asset funds, with professional management and options to trade independently, he said.
It also provides crypto-native UHNWs an easier path to traditional asset management, with access to relationship managers and improved succession planning for the next generation, he added.
According to the statement, the Revo DFO platform gathers UHNW investors, single family offices, and relationship managers in a unified ecosystem, providing a one-stop solution that offers aggregator, independent asset management, gatekeeper, and private wealth advisory services to both UHNW families with traditional assets and crypto-native investors.
The signature fiat-cryptocurrency integrated dashboard can provide portfolio breakdown and analysis, real-time market information, historical data breakdown, and product/fund selector all in one place.
At launch, the platform will support major custodians and digital wallets, and provide asset management services for both traditional (USD, structured products, investments) and digital (USD coin, bitcoin, non-fungible token) assets.
“We believe the innovation and technological infrastructure that underpins the launch of Revo DFO will be conducive to the further adoption and integration of digital assets and blockchain technology in wealth management and finance, with the potential to synergise with the arrival of Central Bank Digital Currency (CBDC), which many jurisdictions in Asia are making significant progress,
“We are also delighted to have already partnered with leaders in blockchain, finance, and market intelligence, and backed by investors including Thailand’s Charoen Pokphand Group on this journey to bring these opportunities to life,” said Tam.
Meanwhile, Raffles Family Office Group Chairman Chi-man Kwan said Raffles FO has always been a pioneer and force for change, staying on the cutting edge of financial innovation to bring bespoke service and seamless experience to its clients.
“We understand that UHNW clients want greater and easier access to a wider range of digital assets, but are at times held back by concerns over complexity, uncertainty, and legitimacy,” he said.
“We recognise the significant role blockchain technology and digital assets will play in preserving, growing, and transferring wealth in the future,
“The launch of Revo DFO marks the latest evolution in wealth management that will support and facilitate smooth transition from traditional to digital for UHNW families in Asia,” he added.
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