Addentax Group proposes acquisition of Riches Group’s offshore wealth, crypto and AI businesses

Addentax proposes to buy Riches Group’s offshore wealth business

Addentax Group Corp. is proposing a strategic acquisition of the offshore wealth management and integrated cross‑border services business of Hong Kong‑based Riches Group, a move the company says advances its global expansion and digital offerings. The deal covers Riches’ offshore business ecosystem, AI‑enabled financial solutions and digital currency/crypto service capabilities, and Addentax says preliminary internal estimates indicate the acquisition could contribute about HKD 300 million in annualized revenue subject to closing and integration.

The assets targeted in the transaction include a full suite of wealth management services spanning private banking, fund custody, global fixed‑income products and offshore and U.S. dollar insurance, with Riches reporting historical monthly transaction volumes exceeding HKD 100 million. The scope also encompasses cross‑border lifestyle services — global property investment and management, international education planning, investment residency and citizenship solutions, and medical travel — together with corporate and fiduciary offerings such as offshore company registration, tax planning and global trust establishment.

Beyond traditional services, Addentax is gaining access to Riches Group’s proprietary AI algorithms for personalized asset allocation, real‑time risk assessment and market insights, plus regulated digital asset custody and investment experience operating within Hong Kong’s regulatory framework. Management says the combination is intended to accelerate cross‑border revenue synergies, expand client reach across jurisdictions and enhance digital asset product penetration across Addentax’s markets.

Deal mechanics and approvals remain under way

The proposed transaction remains subject to customary due diligence, regulatory approvals and the negotiation of definitive agreements, with integration planning already under way. Addentax frames its HKD 300 million figure as preliminary and explicitly conditional on final closing and successful operational integration.

Broader significance for offshore wealth and crypto services

If completed, the acquisition strengthens Addentax’s position in the offshore wealth and cross‑border services market at a time when demand for regulated digital asset custody and integrated HNW services is rising in Asia. Industry observers note the deal increases Addentax’s product breadth but also exposes it to execution and regulatory scrutiny common in cross‑border wealth deals involving crypto and fiduciary services.