Singapore and Thailand tie up to result in an investment in the next generation of digital asset infrastructure.
Singapore’s Raffles Family Office will make a strategic investment in Lightnet Group, a fintech group headquartered in the city-state that is backed by family members of Thailand’s renowned CP Group, according to a media statement.
Lightnet will use the funding to support its ongoing operations and enhance the development of its products and services. As part of this transaction, it will receive a strategic stake in Revo, the digital asset wealth management platform owned by Raffles Family Office.
«The strategic investment in Lightnet focuses on the next generation of financial infrastructure to enable and optimize digitalization in finance,» Chi-man Kwan, the Raffles Family Office Group CEO said.
Valuable Technical Support
Lightnet will be able to expand its payment ecosystem to cover regional institutional fund transfer services through Revo. The fund transfer business is the major component of Raffles Family Office's service to support ultra-high-net-worth (UHNW) families.
Lightnet co-founder and chairman Chatchaval Jiaravanon, who is also a CP family member, said the partnership will be the key to expanding payments and remittance services.
