Licenced by SFC Type 1, 4 & 9 & MAS Capital Market Services
Raffles Family Office and Huobi Tech join forces to launch Asia’s first digital assets-based multi-family office
Pan-Asian wealth manager and global cryptocurrency technology provider to address unmet digital asset management needs of ultra-high net worth families
Hong Kong, 21 April 2022 – Raffles Family Office (Raffles FO) today announced the signing of a cooperation agreement with Hong Kong-listed Huobi Technology Holdings (Huobi Tech; Stock Code: 1611.HK) that will see 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 offer 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 partnership, 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%).
About Raffles Family Office
Raffles Family Office (Raffles FO) is an award-winning multi-family office that offers a full suite of wealth management services for ultra-high net worth individuals. With an integrated platform that combines independence with advisory expertise across a broad range of asset classes and an expansive global partnership network built for seamless collaboration with the world’s leading financial institutions, the firm is uniquely placed to provide comprehensive, lasting and highly bespoke wealth growth and preservation solutions. Raffles FO is headquartered in Hong Kong and has branch offices in multiple Asian financial centres, including Singapore, Shanghai, Beijing and Taipei. For additional information, visit https://www.rafflesgroup.co
About Huobi Technology Holdings Limited
Huobi Technology Holdings Limited (“Huobi Tech”, Stock Code: 1611.HK) was listed on the Main Board of the Stock Exchange of Hong Kong Limited in November 2016. Actively developing the blockchain ecosystem and virtual asset ecosystem, Huobi Tech is committed to becoming the leading one-stop compliant virtual asset service platform. Huobi Tech currently offers data centre services, cloud-based services, SaaS, virtual asset management, custody, trust & custody, OTC brokerage, lending, trading platform and other related services.
At the same time, Huobi Tech is applying for virtual asset and finance-related licenses in major markets around the world. Up to now, Huobi Tech’s subsidiaries have successfully obtained the approval to conduct Type 4 (Advising on Securities) and Type 9 (Asset Management) regulated activities from the Securities and Futures Commission of Hong Kong, registered as a Trust Company in Hong Kong with the Trust or Company Service Provider License (Hong Kong) and the Retail Trust Company License (Nevada USA). For additional information, visit https://www.huobitech.com.