2025-7-7 14:03 |
Toncoin (TON), the native token of The Open Network, has recorded a double-digit price jump of over 10%. This surge followed the project’s claim of an innovative Golden Visa program in partnership with the United Arab Emirates (UAE).
The initiative supposedly allows participants to secure long-term residency by staking cryptocurrency instead of meeting traditional real estate or income thresholds.
UAE Disrupts Visa Model with New TON Staking Route to ResidencyAccording to details from TON, applicants can qualify for a 10-year UAE Golden Visa by staking $100,000 worth of TON and paying a one-time processing fee of $35,000.
The staked tokens are locked for three years through a non-custodial, verifiable smart contract on the TON blockchain. During the holding period, users maintain full ownership of their assets, which will generate an annual yield of approximately 3% to 4%.
Notably, the TON Golden Visa stands out from traditional residency paths, which typically require fixed deposits or real estate investments exceeding $500,000.
TON’s UAE Staking Visa Requirements. Source: TonIn contrast to standard Golden Visas, which can take up to six months to process, the TON-based option reportedly offers a much faster approval timeline. Applicants can expect their visas to be processed in under seven weeks. Furthermore, applicants retain the liquidity of their staked assets, avoiding the illiquidity risks tied to conventional investment visas.
Following the announcement, Toncoin’s price surged over 10%. At the time of writing, the token is trading at around $2.96, up by nearly 8% over the past 24 hours.
Ton Price Performance. Source: BeInCryptoMarket observers noted that the program aligns with the UAE’s broader strategy to establish itself as a global crypto hub.
“This opens the door for digital-first investors who prefer crypto over foreign hard assets. With Durov (Telegram founder) among the rare foreigners granted UAE citizenship, this move signals a deeper alignment of economic vision and digital sovereignty,” Jayden of Genome Protocol said.
Notably, the Middle Eastern country ranks third globally on the Henley Crypto Adoption Index for 2024.
According to the report, the UAE’s relaxed regulatory environment and business-friendly policies continue to attract crypto companies. This makes it a prime destination for innovation and investment in the crypto sector.
Meanwhile, the UAE’s move reflects a wider global trend of integrating crypto into national residency programs.
It closely follows El Salvador’s “Freedom Visa,” which grants citizenship eligibility through a $1 million Bitcoin or USDT investment in the country’s economy. Similarly, it mirrors Hong Kong’s recognition of Bitcoin and Ethereum as valid proof of assets for investment immigration applications.
UAE Officials Clarify the SituationUpdate: UAE officials have denied the claims from TON. The government urges residents and applicants to trust only verified sources on eligibility.
In a joint statement from the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), Securities and Commodities Authority (SCA), and Virtual Assets Regulatory Authority (VARA), officials confirmed digital asset investment is not included among eligible visa categories.
Eventually, the TON team faced criticism from the crypto community.
“It’s just aggressive/misleading marketing. DYOR. You can pay $1,000 (in most major cryptos) to an agent to submit an application for a golden visa. No guarantees, but if you are worth your salt, there is a high chance you will get it. Always wait for official sources before believing anything,” Changpeng Zhao, the co-founder of Binance, said on X.
The post Toncoin Price Jumps on UAE ‘Crypto Golden Visa’ Rumor—Officials Deny It appeared first on BeInCrypto.
origin »Emerald Crypto (EMD) на Currencies.ru
|
