The Open Network (TON), a blockchain project linked to the
Telegram messaging app, recently announced a new initiative. According to the
statement, users could obtain a 10-year UAE Golden Visa by staking $100,000
worth of Toncoin for three years. A one-time processing fee of $35,000 would
also apply. TON said the offer would allow applicants to include family members
and earn an annual return of 3–4% on the staked amount.
UAE authorities quickly responded with a joint statement
denying the existence of any such program. The response came from the Federal
Authority for Identity, Citizenship, Customs and Port Security, the Securities
and Commodities Authority, and the Dubai Virtual Assets Regulatory
Authority.
UAE Denies TON Visa Program
The announcement attracted wide attention in the crypto
community. Even Changpeng Zhao, the former CEO of Binance, shared the news
on social media. TON positioned the initiative as a lower-cost alternative to
traditional UAE residency programs, which often require investments of around
$540,000 in real estate or business.
TON Won’t Get You a UAE Golden Visa — The Hype Ends HereDespite the hype, UAE officials confirmed: staking or holding $TON doesn’t qualify you for a Golden Visa. The offer came from a private firm — not the UAE government.Golden Visas still require real estate, business… pic.twitter.com/2UhhmCNdaR
— Crypto Patel (@CryptoPatel) July 7, 2025
Following the announcement, Toncoin’s price jumped by over
10%, rising from approximately $2.78 to $2.98 within hours. However, the token
lost momentum and fell more than 6% after the official denial.
The regulators said that UAE Golden Visa frameworks do not
include digital asset investors. They also confirmed that TON is not licensed
or regulated in Dubai. The denial caused Toncoin’s price to fall by more than
6% shortly after.
You may find it interesting at FinanceMagnates.com: Telegram,
WhatsApp Lead On the Number of Traders Who Lose Money to Scams: Survey.
TON Clarifies Visa Program Status
The company later issued a clarification. It said the visa
initiative was part of an independent partnership with a licensed blockchain
service provider. According to TON, the initiative was in early development and
had no formal link to the UAE government.
TON added that submitting an application would not guarantee
a visa. The final decision would remain with relevant government bodies in the
UAE.
The incident follows a series of developments connecting
Telegram and the UAE. Earlier in 2025, after being released from house arrest
in France, Telegram’s CEO returned to Dubai. At that time, Toncoin’s price
jumped by about 20%. In May 2025, reports emerged that Telegram was raising
$1.5 billion through bond issuance, led by BlackRock and Abu Dhabi’s sovereign
fund Mubadala.
This article was written by Tareq Sikder at www.financemagnates.com.
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