TON Foundation Clarifies Golden Visa Project Has No Official UAE Backing
The TON Foundation has issued a clarification amid circulating reports about its involvement in a digital residency initiative linked to a so-called Golden Visa program purportedly supported by the United Arab Emirates (UAE) government.
Background
Over the last weekend, several reports and social media posts claimed that Toncoin—the native cryptocurrency of The Open Network (TON)—had launched an innovative staking-based Golden Visa program. This initiative reportedly allowed participants to secure long-term UAE residency by staking cryptocurrency tokens instead of meeting traditional income or investment thresholds.
These announcements sparked significant interest within the crypto community, raising expectations that the UAE government was endorsing or collaborating officially with TON on this digital residency effort.
TON Foundation’s Official Statement
In a statement released on Monday, the TON Foundation clarified the situation, emphasizing that the digital residency project is an independent initiative without official backing or endorsement from the UAE government.
“The TON Foundation is aware of the premature announcement that circulated on X [formerly Twitter] regarding a UAE Golden Visa initiative offered by TON,” the statement read. “While we understand the community’s interest and enthusiasm, it’s necessary to provide clarity.”
The foundation explained that the digital residency concept stemmed from an independent collaboration between TON and a licensed private partner specializing in blockchain infrastructure and tokenized assets. This collaboration is exploratory in nature and has not been formalized through any government channels or official UAE entities.
Importantly, the TON Foundation stressed that:
- No official Golden Visa program has been launched in partnership with the UAE government.
- No governmental endorsement has been granted to TON related to such a residency or visa program.
- The pilot project does not guarantee visa issuance, which remains under the sole authority of UAE government agencies.
Alignment With UAE Regulatory Authorities
TON’s clarification also referenced a joint statement by several UAE regulatory bodies—namely the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA). These agencies confirmed that no official digital residency or investment visa programs have been approved or launched in collaboration with TON.
The foundation welcomed the clarity provided by these authorities and praised the UAE’s commitment to regulatory transparency.
Ongoing Exploration and Commitment to Responsible Innovation
The TON Foundation emphasized that the project is an early-stage exploration of how blockchain technology and token-based mechanisms could one day facilitate compliant, real-world pathways to residency. The foundation underlined its focus on responsible innovation aimed at bridging real-world assets and digital access on-chain.
“We remain focused on bringing real-world assets and digital access together on-chain,” the statement said, noting that any future official involvement or partnerships would be communicated transparently through proper channels.
Market Context
As of the latest data:
- Bitcoin (BTC) is trading around $108,554.44, slightly up by 0.31%.
- Ethereum (ETH) stands near $2,608.37, up approximately 2.13%.
- Other notable coins like Solana (SOL), Pepe (PEPE), Shiba Inu (SHIB), Dogecoin (DOGE), and XRP remain relatively stable with moderate gains.
- Ethereum gas fees remain low at approximately 0.23 gwei, reflecting lower network congestion.
Conclusion
The TON Foundation’s statement serves to dispel rumors and set clear expectations regarding their Golden Visa project, reinforcing that there is no official UAE government backing at this time. The crypto community and potential participants are advised to exercise caution and await further updates directly from legitimate, government-endorsed sources before engaging with such residency programs.
About the Author:
Tanzeel Akhtar is a seasoned journalist specializing in cryptocurrency and blockchain technology. Reporting since 2015, her work has appeared in leading publications including The Wall Street Journal.
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