Qianxun Technology, a Hong Kong-listed company, has announced plans to acquire Web3 financial technology firm Punk Code for up to HK$25 million. The acquisition is outlined in a non-legally binding memorandum of understanding, as reported by the Hong Kong Stock Exchange. Punk Code's founding team, primarily former Tencent employees, has been involved in blockchain finance and digital assets, notably contributing to the establishment of Tencent Hong Kong's virtual bank, Fusion Bank, in 2020. The company's founder, Cai Yige, has a background in computer science from Nanjing University and extensive experience in Tencent's blockchain and digital business sectors.