The Toncoin Foundation has partnered with the United Arab Emirates to launch a blockchain-powered Golden Visa offering allowing investors to obtain UAE residency. Through this initiative, participants can secure a 10-year residency visa by staking $100,000 worth of Toncoin (TON) tokens via the TON blockchain.
The program leverages blockchain technology to ensure transparency and security in the staking process, providing participants with estimated annual yields between 3% and 4% during the staking period. Following the partnership announcement, Toncoin’s market value surged by over 10%, reaching prices near $2.96.
This UAE initiative represents a growing global trend of crypto-backed residency programs, joining similar efforts including El Salvador’s ‘Freedom Visa’ and Hong Kong’s investor-focused blockchain initiatives. The partnership aims to enhance cryptocurrency adoption and attract blockchain enterprises to support the UAE’s Vision 2021 economic diversification goals.