The Open Network (TON), a blockchain platform backed by Telegram, recently unveiled a unique offer that promised a 10-year UAE Golden Visa to those who stake at least $100,000 worth of Toncoin (TON) for three years.
Moreover, TON also claimed the visa process could be completed in under seven weeks, with the entire process managed by UAE-based partners. The offer included additional benefits like an estimated 3 to 4 percent annual yield on staked TON and visa coverage for immediate family members.
According to circulating reports, applicants would stake TON for three years and pay the hefty fee to access a long-term UAE visa. However, CZ points out that Golden Visas via agents usually cost around $1,000, making this offer unusually expensive.
He also highlighted that staking is a regulated activity in the UAE and would likely need approval from local authorities such as VARA and ADGM, yet there has been no public statement from any official body.
Binance founder Changpeng Zhao (CZ) has expressed skepticism about the offer, questioning its legitimacy.
He says the lack of confirmation from UAE government sources makes the deal “too good to be true.” While some users noted that Telegram founder Pavel Durov had reposted the offer, CZ remained cautious, stating he prefers to trust but verify.
Despite his skepticism, CZ remains open to the idea. If the TON staking-for-visa claim turns out to be true, he said he would explore a similar opportunity using Binance Coin (BNB). Binance already has deep roots in the UAE, with CZ holding UAE citizenship and the exchange receiving regulatory approvals in both Dubai and Abu Dhabi.
However, UAE regulators in a joint statement have denied offering Golden Visas to crypto investors, clarifying that such visas are limited to approved categories like real estate investors, scientists, and top graduates. They urged the public to avoid unverified offers of getting a UAE crypto visa and only deal with licensed crypto entities, stating no official backing exists for TON’s program.
As speculation grows, the TON token is seeing a surge. It spiked 6% to $2.90, briefly touching $3.05 before settling. The trading volume has surged to $643 million in 24 hours, representing a 607% increase. With crypto markets experiencing an overall boost from a weekend rally, an official confirmation from the UAE could send TON even higher.
UAE authorities denied the TON Golden Visa program because digital currency investments are not an eligible category for Golden Visas under their established frameworks. The ICP, SCA, and VARA clarified that visas are for categories like real estate investors, scientists, and entrepreneurs, and also noted TON is not licensed or regulated by VARA.
TON’s program, though denied, offered a lower capital requirement ($100K staked TON) and faster processing (under 7 weeks) compared to traditional UAE Golden Visa routes, which typically demand higher investments (e.g., $540K+ in real estate) and longer approval times (3-6 months).
Yes, other countries and blockchains could adopt similar crypto-based residency programs. Nations like El Salvador, Grenada, and Portugal already offer pathways where crypto can factor into investment migration, either directly or through conversion to fiat. The UAE itself aims to attract crypto talent, suggesting a future where such innovative programs might become more common.
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