Singapore-based Lightnet Group ("Lightnet") announced today the completion of Raffles Family Office's ("Raffles FO") strategic investment. The funding will support Lightnet's ongoing operations and help enhance the development of Lightnet products and solutions.
As part of the transaction, Lightnet will secure a strategic stake in Raffles FO's digital asset wealth management platform, Revo. The partnership will provide valuable technical support and payment infrastructure to drive and deliver success for both parties, by enabling Lightnet to expand its payment ecosystem to cover institutional funds transfer, a major component of Raffles FO's service offering to support ultra-high-net-worth (UHNW) families in the region through Revo. The partnership reaffirms Lightnet's vision to revolutionise the payments and remittance space with next generation infrastructure and services across the entire spectrum, from the unbanked or underbanked, to wealthy individuals and family offices.
Raffles Family Office Group CEO Chi-man Kwan said:
"We are delighted to participate in the strategic investment in Lightnet which focuses on the next generation financial infrastructure. At Raffles Family Office, we are committed to driving the development of a wealth management platform built for the digital future and synergies with like-minded innovators in a collaborative ecosystem to enable and optimize digitalization in finance. We will continue to play our part in revolutionizing the world of finance, working together with partners to unlock the potential of blockchain technology."
Lightnet Co-Founder and Chairman, Chatchaval Jiaravanon, said:
This agreement will see more adoption of Lightnet's next generation financial infrastructure. This is key to expanding our payments and remittance services. We are very excited to be able to join forces with Raffles Family Office and hope this agreement will bring meaningful growth for our payments infrastructure and the asset-based platform. Lightnet's network will provide borderless and formless financial mobility infrastructure for Revo digital asset wealth management platform to move the fund anywhere in the world.
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