The TON Foundation, the organization behind The Open Network (TON), has clarified recent claims about its connection to a UAE residency initiative, following mixed reports over the weekend.
In a blog post published on Monday, the foundation stated it is in the early exploratory phase of developing a potential UAE Golden Visa program in collaboration with a licensed partner. However, it emphasized that all authority lies solely with official UAE government bodies, and any such program must comply with local laws and regulations.
“To be clear, there is no officially sanctioned Golden Visa initiative involving TON, nor has there been any endorsement from the UAE government,” the statement read.
This clarification came just two days after TON’s announcement about offering 10-year UAE golden visas, which sparked a swift response from UAE authorities. The Federal Authority for Identity, Citizenship, Customs and Port Security, along with the Securities and Commodities Authority and the Virtual Assets Regulatory Authority, jointly confirmed that digital asset holders are not currently eligible for golden visas under any existing official programs.
The initial announcement gained attention in the crypto community, with notable figures like former Binance CEO Changpeng “CZ” Zhao raising doubts about its authenticity. Part of the buzz may have come from Telegram CEO Pavel Durov, who reshared an X (formerly Twitter) post detailing the program — a post that, as of now, remains active.
Whether TON Foundation will move forward with UAE government cooperation is still uncertain. Their proposed visa model — requiring a $100,000 stake in Toncoin (TON) — would present a lower-cost alternative to traditional investment-based residency routes, which often demand upwards of $540,000 in less liquid assets.
Residency Programs and Crypto Investors: A Global Trend
Golden visas and residency-by-investment options are increasingly appealing to crypto investors. While most such programs are not directly linked to cryptocurrencies, they offer similar incentives. For example, Portugal’s Golden Residence Permit Program offers a path to citizenship for non-EU nationals investing more than $500,000 — including in crypto.
In the U.S., former President Donald Trump launched a “gold card” initiative earlier this year, requiring a $5 million investment for legal residency. According to Commerce Secretary Howard Lutnick, the program had attracted around 70,000 applicants by mid-June.
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