- $100,000 in TON required for 10-year UAE residency.
- Initial response led to an 8-10% TON price surge.
- Touted as the first blockchain-based residency offer globally.
Toncoin is collaborating with the United Arab Emirates to offer a 10-year Golden Visa to individuals staking $100,000 in TON for three years. The program is facilitated by the UAE government’s immigration and investment agencies.
The initiative underscores the UAE’s commitment to exploring innovative programs through cryptocurrency. Analysts note the conditional secure residency for stakers, reflecting the evolving landscape of investment-based residency.
TON Stakers Gain Access to UAE’s 10-Year Golden Visa
The UAE has introduced a Golden Visa program for Toncoin stakers. Applicants must stake $100,000 in TON for three years. This initiative seeks to integrate cryptocurrency staking into the UAE’s residency offerings. Toncoin is the official crypto partner, overseeing project direction and partnership execution.
Imposing significant program requirements, each applicant must pay a one-time processing fee of $35,000. The project could drive substantial inflows and long-term staking. This shift may attract industry leaders and stir the market.
In response, TON surged 8-10% after the announcement, demonstrating market confidence. While Changpeng Zhao, founder of Binance, remarked, “No primary source record on BNB’s involvement with the UAE Golden Visa found at this time.” No official confirmation exists about Binance engaging in a similar initiative with the UAE.
Toncoin’s Market Performance Amid Innovative Residency Program
Did you know? The TON initiative marks a pioneering moment as the first globally recognized residency program, purely based on blockchain asset staking, differing from prior real estate-focused visa options.
According to CoinMarketCap, Toncoin’s price is currently $2.89, with a market cap of $7.12 billion and a fully diluted market cap of $14.82 billion. The 24-hour trading volume surged 428.18% showing a positive 5.00% price change over the same period. Over the past 30 days, the price dipped by 9.52%, with a total circulating supply currently noted at 2.47 billion tokens.
Experts from Coincu research suggest the program highlights a transformative intersection between cryptocurrency and residency. They expect regulatory shock, which could spur similar frameworks globally. Increased global recognition for Toncoin’s utility and staking strategies may solidify its place in crypto finance.
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Source: https://coincu.com/347131-toncoin-uae-golden-visa-staking/