Toncoin Price Jumps 10% After UAE Golden Visa Staking Deal

Toncoin has announced a groundbreaking partnership with the United Arab Emirates (UAE) to offer a 10-year Golden Visa in exchange for staking $100,000 worth of TON for three years. This initiative marks a significant milestone in the integration of cryptocurrency with traditional financial systems, providing a new pathway to residency for global citizens.

The program, which bypasses traditional real estate or income requirements, allows applicants to secure a Golden Visa by staking the specified amount of TON. This move is expected to attract a wide range of crypto enthusiasts and investors who are looking for alternative residency options. The staking period is set at three years, with a one-time processing fee of $35,000. Notably, users retain full control of their funds, which remain locked in a decentralized smart contract and can be fully withdrawn after the staking period.

Following the announcement, the TON price surged by 10%, reflecting the crypto community's positive response to this development. The initiative is seen as a strategic move by Toncoin to expand its user base and increase the adoption of its cryptocurrency. The partnership with the UAE, known for its crypto-friendly laws, further solidifies Toncoin's position in the global crypto market.

This new residency program is a testament to the growing acceptance of cryptocurrencies in mainstream financial systems. By offering a crypto-native option for residency, Toncoin and the UAE are paving the way for more innovative use cases of digital assets. The program not only provides a flexible residency option but also encourages long-term staking of TON, which could potentially drive up its value over time.