The TON Foundation has issued a clarification after controversy erupted over its proposed UAE Golden Visa program. The confusion began when TON’s website claimed Toncoin holders could secure a 10-year UAE Golden Visa by staking $100,000 for three years and paying a $35,000 fee. Telegram CEO Pavel Durov even amplified the news by reposting it on X.
However, the UAE government quickly denied the claim. In a joint statement, the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) said no such digital asset visa initiative had been launched.
TON has since backtracked, stating the announcement was “premature” and that no official partnership with UAE authorities exists. “We support the UAE’s joint statement,” TON wrote in a blog post, clarifying that the program remains in early discussions with a private partner and is not approved by the government.
The UAE introduced the Golden Visa in 2019 to attract skilled professionals, entrepreneurs, and investors. Typically, applicants must invest at least $540,000 in illiquid assets or meet strict skill-based criteria. TON’s proposed offer, if ever approved, would have been significantly cheaper.
This isn’t the first time Durov has jumped the gun, he previously announced a partnership between Telegram and Elon Musk’s xAI that never materialized.
Whether TON will gain official backing in the future remains unclear, but for now, no crypto-backed Golden Visa program exists in the UAE.
Also Read: Toncoin Pumps 10% Before Pullback on UAE Visa Confusion
