TON’s UAE Golden Visa Offer Triggers Price Spike—and Fierce Debate Over Legitimacy

The TON Foundation has rolled out a new option for crypto holders to secure long-term residency in the United Arab Emirates, but while some in the crypto world are praising it as innovative, others are warning it could be misleading.

On July 6, Max Crown, CEO of the TON Foundation, announced via X (formerly Twitter) what he called a “groundbreaking initiative” allowing Toncoin (TON) holders to qualify for a 10-year UAE Golden Visa.

The program requires applicants to lock up $100,000 in Toncoin for three years and pay a $35,000 one-time processing fee. Once the three-year lock period ends, participants can reclaim their staked funds and, during that time, earn an estimated 3–4% APY on their TON holdings.

According to the TON Foundation’s website, the scheme offers perks like fast visa processing in under seven weeks, fewer paperwork hurdles compared to traditional applications, and the ability to include family members (such as spouses, children, and parents) without additional costs beyond standard government fees. Staking takes place via decentralized smart contracts on the TON blockchain, which the Foundation claims ensures transparency and security.

TON’s approach is positioned as a more affordable and quicker alternative to standard UAE Golden Visa paths, which typically demand at least $540,000 invested in real estate or fixed deposits—often with less liquidity and longer wait times. The Foundation argues its model aligns with the UAE’s goals of becoming a global hub for crypto and Web3 innovation.

Toncoin Price Soars on Announcement

News of the initiative quickly sent TON’s price higher. Shortly after the announcement, Toncoin jumped 12% to reach roughly $3.06. As of writing, it trades near $2.8944, reflecting a 5.36% gain in the past 24 hours. Trading activity has surged as well, with 24-hour volume sitting around 251.54% above the 30-day average, per CoinDesk Research’s technical data.

Enthusiasm Meets Skepticism

While the project has sparked significant interest, it’s also drawn plenty of doubts.

Bobby Ong, co-founder and COO of CoinGecko, described the idea as an “amazing story,” suggesting it could attract larger investors and create buying pressure for Toncoin. Still, he expressed hope it wasn’t merely a short-term gimmick.

Meanwhile, Joe HedgedHog (@JoeHedgedHog), an investment partner at Sigil Fund, pointed out that the initiative is not an official UAE government program. He clarified it’s a service offered through a third-party legal firm that uses TON staking as a method to support applications for entrepreneur visas. He stressed that technically, any crypto asset could have been used and called the staking element more of a “token utility sink” than a government-driven requirement.

Further concerns came from ivangbi (@ivangbi_), Head of Strategy & Business Development at Gearbox Protocol, who criticized the announcement as potentially misleading. He explained that the $35,000 fee goes to a legal firm tasked with submitting visa applications, while approval remains entirely up to UAE government authorities. He noted that the TON staking balance might be just one of several factors—and not strictly necessary—under new regulations. He warned the lack of direct government endorsement makes outcomes uncertain, suggesting the plan might be more of a marketing strategy than a guaranteed path to residency.

Even Changpeng Zhao (CZ), Binance co-founder and former CEO, reacted cautiously, noting significant unanswered questions. He pointed out that the $35,000 fee appears destined for a legal intermediary, not the UAE government, and cautioned that the TON website’s messaging could imply a guaranteed visa purely for staking Toncoin, which is not the case.

CZ also highlighted that staking is considered a regulated financial activity in the UAE, meaning the TON Foundation might not have the necessary licenses to run such a scheme legally. He further noted that official UAE government channels do not list Toncoin staking as a recognized route to the Golden Visa, which remains tied to traditional visa categories.

In a follow-up, CZ advised the crypto community to “trust but verify,” emphasizing that while the concept could be beneficial, clear government endorsements are essential for legitimacy. So far, no UAE government agency has publicly confirmed or endorsed TON’s offering.

Background on the UAE Entrepreneur Visa

The entrepreneur visa route in the UAE—the mechanism TON seems to be using—is designed for those managing innovative business projects. Applicants must provide documentation from a licensed UAE auditor proving their business is worth at least 500,000 AED, secure endorsements from local authorities for the project’s innovative value, and receive backing from a recognized UAE business incubator.

Toncoin Technical Analysis Highlights

• Price Range: TON moved from $2.75 to a peak of $3.06, marking a $0.34 (12.4%) gain.
• Initial Rally: Started around 7:00 on July 6, as trading volume spiked to nearly 13 million tokens.
• Sharp Surge: An intense 57.5 million token volume wave hit at 8:00, pushing TON to its highest point.
• Support Levels: Strong buying has emerged between $2.86 and $2.89.
• Resistance Zone: Sellers are clustered around $3.03, hinting at a potential trading range.
• Short-Term Gain: TON rose 2.4% between 15:12 and 16:11 on July 6.
• Breakout Moment: A dramatic move occurred at 15:48 when trading volume jumped to 1.68 million tokens. TON briefly reached $2.93 at 15:50 before stabilizing around new support at $2.90–$2.91.

As debate rages on, TON’s Golden Visa strategy remains both an ambitious leap into crypto-driven residency solutions—and a lightning rod for criticism until official UAE government backing emerges.

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