UAE denies formal TON partnership over Golden Visa

Update (July 6, UTC at 12 noon): This article is updated to include Sigil Fund Partner who involves the comments of hedgehog.

Note the editor: This article has been highly updated to include the denial of the UAE Press Office.

Open Network (ton), exiting the blockchain platform Telegram, unveiled that it was described as a new route for the UAE Residency, who offers a 10 -year golden visa to the applicants who offer $ 100,000 tanquins (tons) for three years at stake and pay once a $ 35,000.

“Protect your golden visa in the visa office by presenting the document in less than 7 weeks,” Announced Saturday, in detail that its UAE-based partner will manage visa processing and residence confirmation.

However, Emirates News Agency (WAM) later clarified Press release That is the Federal Authority for Identification, Citizenship, Customs and Port Safety (ICP), Securities and Commodities Authority (SCA), and Virtual Assets Regulatory Authority (VARA) issued a joint details that Golden Visa Digital Asset holders are not released.

“The authority further confirmed that digital currency investment is ruled by specific rules and is unrelated to golden visa eligibility. It urged investors to get information from reliable, official sources to avoid misinformation or fraud,” according to the WAM.

According to the press release, the groom also clarified that the company ton has neither been licensed nor regulated by the groom.

According to the original claim, applicants maintain control of their property during the staking period through a decentralized smart contract on ton blockchain. In addition, the program estimates an annual yield of 3% to 4% on stacked assets, adding an incentive to crypto investors.

Golden visa will expand coverage to immediate family members, including husband -wife, children and parents, beyond standard government fees.

Connected: Tonquine grows as Powell as France after months

Ton Golden Visa Entry Cost reduces by 80%

Traditional UAE Golden Visa routes usually demand a minimum of $ 540,000. In contrast, the tonne program was suggesting just $ 100,000 in stacked ton, which offers a significantly lower entry point.

Koingco co-founder Bobby Ong wrote on X, “The entry is 5x less than an equivalent real estate / FD investment and will definitely draw a whale’s attention to take a look at tons and to follow it as an alternative.”

After the announcement, the price of Tonquine exceeded 10%. At the time of writing, the token is trading at $ 2.98 over 8% in the previous day. According to the data of the coinmarketcap, the token in the last one year is still more than 60%.

However, some have raised doubts about the importance of ton’s golden visa program, given that it is not an official partnership with the UAE government.

The 3 party provider is using tones as a proxy to help entrepreneurs to get golden visas for entrepreneurs instead of hedgehog. , wrote On X.

Connected: Ton blockchain network back after online brief outage

UAE for cement position as blockchain hub

The Crypto-based residency program comes as the UAE pushes itself to install itself as a primary destination for blockchain and crypto projects.

Last month, the financial regulator of the Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC) approved Ripol’s RLUSD StableCoin.

In May, the Dubai’s Crypto regulator updated its guidelines, including the real -world property (RWA) provisions. Advocate Irina Hever told Cointelegraph that these rules give to the issuers and exchange a clear path to launch and trade real estate property.