Toncoin Surges 19% After UAE Offers 10-Year Visa For $100,000 Stake

The team behind Toncoin has partnered with the UAE to offer a 10-year golden visa for participants who want to stake $100,000 worth of TON for at least three years. This initiative has led to Toncoin reaching a 19-day high, reflecting the growing interest and investment in the cryptocurrency market.

The offer of a 10-year golden visa in the UAE for those who stake $100,000 in Toncoin is a strategic move that could attract high-net-worth individuals and investors looking for long-term residency options. The UAE has been actively promoting itself as a hub for cryptocurrency and blockchain technology, and this visa program is a testament to its commitment to fostering a crypto-friendly environment. By staking their TON, investors not only secure residency but also contribute to the liquidity and stability of the Toncoin network.

The partnership between Toncoin and the UAE is a win-win situation for both parties. For Toncoin, it provides a significant boost in visibility and adoption, as the visa program is likely to attract a large number of investors. For the UAE, it reinforces its position as a global leader in cryptocurrency and blockchain innovation, potentially attracting more businesses and talent to the region. The visa program also aligns with the UAE's broader economic diversification strategy, which aims to reduce its reliance on oil and gas and promote sectors such as technology and finance.

The impact of this partnership on the Toncoin market is evident, with the cryptocurrency reaching a 19-day high following the announcement. This surge in value reflects the market's positive response to the visa program and the potential for increased demand for Toncoin. As more investors stake their TON to qualify for the visa, the overall liquidity and stability of the network are likely to improve, further driving its value.

The visa program is also a testament to the growing acceptance of cryptocurrencies as a legitimate asset class. By offering residency in exchange for staking TON, the UAE is recognizing the value and potential of cryptocurrencies, and encouraging more people to invest in them. This move could pave the way for similar initiatives in other countries, further integrating cryptocurrencies into the global financial system.

According to the announcement, staking TON will be significantly less expensive and time-consuming than receiving a traditional golden visa, which could take up to six months and cost over $500,000. The entire process is done “through a decentralized smart contract, fully verifiable on [the] TON blockchain.” Users need to submit their application and stake the assets, which will lead to a confirmation and review process. Toncoin’s visa issuing partner in the UAE will review the details and “guide you through the final steps.” The entire procedure should take up to seven weeks, the statement said. Future UAE residents do not need to purchase real estate or meet income thresholds. Moreover, the visa will include their spouse, children, and parents for no extra cost (only the standard government fee applies).

In conclusion, the partnership between Toncoin and the UAE to offer a 10-year golden visa for staking $100,000 in TON is a significant development in the cryptocurrency market. It reflects the growing acceptance and adoption of cryptocurrencies, and has the potential to drive further growth and innovation in the sector. As more investors take advantage of this opportunity, the value and stability of Toncoin are likely to continue to rise, making it an attractive option for those looking to invest in the future of digital assets.