In the span of just a few years, Jenga Business Consulting Group has transformed from a blockchain consultancy serving Chinese tech companies to becoming a key player in Singapore's burgeoning family office ecosystem. As Singapore solidifies its position as Asia's wealth management hub, Jenga's evolution mirrors the city-state's own journey in attracting global capital and talent.
The Early Days: Bridging East and West
We sat down with Iris Xu, Chief Executive Officer of Jenga Business Consulting Group, to understand how the company has navigated the rapidly changing landscape of Singapore's financial services sector.
"We launched in February 2017 as a consulting company facilitating overseas expansion for technology companies in China," Xu recalls. "Initially, we focused on providing entry strategies for Chinese internet businesses wanting to establish themselves in Singapore."
The timing was fortuitous. As China tightened regulations on cryptocurrency and ICOs, Jenga found itself at the forefront of helping blockchain companies relocate to Singapore's more welcoming regulatory environment. Within its first year, the company had successfully empowered over 400 blockchain-based startups to accelerate their growth in Southeast Asia.
Beyond Blockchain: The Pivot to Comprehensive Business Services
What set Jenga apart from other consultancies was its holistic approach.
"We were never just an ICO consulting company," Iris Xu emphasizes. "We positioned ourselves as a long-term operational partner, providing not just knowledge and expertise, but also industry resources and tailor-made solutions that fit into our clients' development processes."
The company's services expanded to encompass:
- Business Development
- Marketing and Communications
- Global Corporate Structuring
- Accounting and Tax Planning
- Regulatory Compliance
- Family Office Setup and Management
This comprehensive service offering proved prescient as Singapore's financial landscape evolved beyond cryptocurrency to embrace a broader range of wealth management services.
The Family Office Revolution
By 2025, Jenga had successfully pivoted to serve the explosive growth in family offices choosing Singapore as their base. This transition was natural, given the company's expertise in helping high-net-worth individuals and businesses navigate Singapore's regulatory environment.
The numbers tell a compelling story. As reported by CNBC in May 2025, the wealth management industry globally faces a significant talent shortage, with demand for qualified professionals far outstripping supply. This challenge has created opportunities for established players like Jenga who have deep expertise in Singapore's regulatory framework and strong networks within the financial community.
Strategic Partnerships and Industry Recognition
Jenga's growing influence in the family office space was highlighted by its partnership with SGX Group and Boston Consulting Group (BCG) Partners to host outreach events for family offices in Singapore. These events, as reported by IBTimes Singapore, demonstrate Jenga's role as a bridge between regulatory bodies, global consulting firms, and the family office community.
"These partnerships validate our approach of being more than just service providers," Iris Xu notes. "We're ecosystem builders, helping to strengthen Singapore's position as the premier destination for family offices in Asia."
The Singapore Advantage: Why Location Matters
Iris Xu's insights on why businesses choose Singapore remain as relevant today as they were during the blockchain boom:
- Regulatory Clarity:
"Singapore has always taken an open yet prudent approach to new financial innovations. This balanced stance provides certainty for businesses."
- Tax Efficiency:
"The favorable tax structure, including the Section 13O and 13U schemes for family offices, makes Singapore extremely attractive for wealth management."
- Political Stability:
"In an increasingly uncertain world, Singapore's stability is more valuable than ever."
- Infrastructure:
"From technology to banking, Singapore offers world-class infrastructure that sophisticated financial operations require."
- Cultural Bridge:
"For Asian families, Singapore offers the perfect blend of East and West – familiar cultural practices with international standards of governance."
Regional Expertise and Market Understanding
Jenga's deep understanding of Asian business practices has been particularly valuable as Forbes China reported on the increasing interest from North Asian families in establishing family offices in Singapore, citing the city-state's political neutrality and sophisticated financial ecosystem. The company's ability to navigate cultural nuances while maintaining international standards has been crucial to its success in helping families and businesses from across Asia establish themselves in Singapore.
Looking Ahead: The Future of Wealth Management in Singapore
As Singapore continues to attract family offices – with numbers growing from 400 in 2020 to over 1,100 by 2024 – Jenga is well-positioned to capitalize on this growth. The company's evolution from blockchain consultancy to comprehensive business services provider demonstrates its ability to anticipate and adapt to market needs.
"The fundamentals that made Singapore attractive for blockchain companies – regulatory clarity, political stability, and excellent infrastructure – are the same factors drawing family offices today," Xu observes. "What's changed is the sophistication of services required. Family offices need partners who understand not just compliance and structuring, but also succession planning, philanthropy, and multi-generational wealth preservation."
Advice for the Next Generation
When asked what advice she would give to businesses looking to establish operations in Singapore today, Xu's response reflects the wisdom gained from years of helping companies navigate cross-border expansions:
"First, understand that Singapore is not just a location – it's a gateway to the entire Asian market. Second, invest in understanding the regulatory environment thoroughly. What might seem like red tape is actually Singapore's way of maintaining the high standards that make it attractive in the first place. Finally, think long-term. Whether you're setting up a family office or a regional headquarters, success in Singapore comes from committing to being part of the ecosystem, not just using it."
The Jenga Difference
What distinguishes Jenga in an increasingly crowded consultancy market is its track record of evolution and adaptation. From helping blockchain startups in 2017 to facilitating complex family office structures in 2025, the company has consistently stayed ahead of market trends while maintaining its core commitment to comprehensive, long-term partnerships with clients.
As Singapore cements its position as Asia's undisputed wealth management hub, companies like Jenga Business Consulting Group play a crucial role in maintaining the city-state's competitive edge. By providing the expertise, connections, and operational support that global families and businesses need, Jenga is not just witnessing Singapore's transformation – it's actively shaping it.
For more information about Jenga Business Consulting Group's services, visit www.jenga.io.
This article is part of our series profiling key players in Singapore's financial services ecosystem. Stay tuned for more insights into the companies and individuals driving innovation in wealth management and family office services.