Chi-Man Kwan, founder and CEO of Raffles Family Office (RFO), says traditional banks cannot easily serve clients arriving with large stablecoin holdings. "What if somebody comes with $100 million of stablecoin? You can't take them to a local bank," he told Fortune. Younger billionaires are also more likely to store wealth on the blockchain in "newer currencies" like Bitcoin and Ethereum, and Kwan says most traditional finance institutions do not accommodate these digital assets.
RFO started Revo in 2022, described as Asia's first digital assets focused multi-family office. In February, it secured licenses from Hong Kong's Securities and Futures Commission allowing it to offer professional portfolio management services for digital assets alongside traditional investments. A 2026 survey by fund administration provider Ocorian found that 86% of family office principals and senior executives are including crypto in their investment strategies, though Wealth Briefing Asia notes that regulatory and reporting challenges often stop family offices from fully embracing crypto.
The firm points to a generational shift in wealth. The 2026 Hurun Global Rich List counts 1,110 of the world's 4,020 billionaires in China, the largest such population, ahead of the United States with 1,000. Kwan recalls Chinese entrepreneurs turning private companies public and "becoming billionaires almost overnight" in the early 2010s, which he says "turned Hong Kong's wealth management sector upside down."
Younger clients need a different approach. "It's easy to speak to someone in their 50s or 60s about legacy planning, because they're generally married, with children of a certain age," Kwan said. "But if you talk to a billionaire who is 35, they may not even be married yet, so how you cater to them is very different."
RFO serves high net worth individuals across Beijing, Shanghai, Singapore, Hong Kong, Taipei and Bangkok. Its expansion has also reached Kigali: in March it co-hosted the inaugural Rwanda Family Office Symposium with national economic bodies, last month former Rwandan Minister of State for Infrastructure Jean de Dieu Uwihanganye joined as principal of emerging markets, and on October 22 RFO signed a strategic capital mobilization agreement with the Rwanda Development Board. Kwan points to Africa's demographic trajectory: "I wouldn't be surprised if they someday overtake Asia as the fastest-growing continent in the world."