The TON ecosystem has launched a 10-Year UAE Golden Visa in collaboration with the United Arab Emirates to offer its TON stakers a 10-year Golden Visa. The requirements to secure the Visa include staking $100,000 worth of TON (can be unlocked after 3 years) + paying a one-time processing fee of $35,000.
The partnership is causing a reverberation across the crypto ecosystem, with many users expressing mixed feelings. In response to this news, TON surged 10%, crossing the $3. Meanwhile, the UAE government clarifies that the initiative is not an official program, but is run by private partners.
How the Program Works
According to TON, users can secure a 10-year Golden Visa with a one-time $35,000 processing fee and stake $100,000 in TON for 3 years. Users will regain full control of their stake after the 3–year lock-in period. TON explains that participants can earn between 3% and 4% APY on staked tokens over the next 3 years. The processing fee covers application and admin costs.
To begin the process, the user would have to fill in and submit an application form. They’d be asked to pay for their Visa processing fee and stake TON through an approved link sent via email. Once payment and TON staking are confirmed, the user receives an email confirming submission. If the user’s application submission is validated, the Visa issuing partner in the UAE will review it.
The issuing partner will guide the individual through the final steps of receiving their 10-year Golden Visa. The user will get a 10-year residency within 7 weeks, which also covers their spouse, children, and even parents. This program is more cost-effective than the traditional Golden Visa, which requires $540,000 in real estate or a fixed deposit (non-refundable).
Impact of the Golden Visa on TON and the UAE
TON’s grand initiative will boost token utility and value beyond speculation. Offering residency in exchange for staking gives the TON asset tangible use, which will skyrocket demand and price. As seen, the price of 1 TON rose 10% in response to the news.
Also, its 3-year lockup period will attract long-term holders, offering stability to the ecosystem. By partnering with the UAE, TON is integrating Web 3 with real-world systems. Recall that the TON Foundation has a regulatory presence in the UAE via ADGM. This makes it prime to enjoy the benefits of the country’s booming crypto ecosystem.
As for the Emirati, this program will attract high-net-worth crypto users, without having to invest in business or real estate to get residency. Given that the UAE is strengthening its crypto hub, the collaboration with TON will reinforce this appeal. Besides, onboarding crypto residents will bring capital and expertise, which will help the burgeoning crypto ecosystem with more jobs and global engagement.
Will Other Blockchain Companies Initiate Similar Programs?
Former Binance CEO Changpeng Zhao (CZ) has already expressed interest, hinting at a potential follow-on collaboration. He said that if the news is true, he will try to push BNB to join a similar plan. Telegram founder Pavel Durov also retweeted the news, of which TON Foundation CEO Max Crown said it was “Definitely real”.
Apart from potential Blockchain companies’ partnerships, programs like the Golden Visa solidify the UAE’s stance as a crypto hub in the Middle East. Already, Ripple is expanding blockchain payment services to the Emirates, and more blockchain startups will likely emerge. This could forever reshape the crypto ecosystem in the UAE.
