After TON claimed a staking program would offer golden visas for holders to enter the United Arab Emirates, the country’s news agency shot down the idea of a partnership.
Update (July 6, 12 pm UTC): This article has been updated to include comments from Sigil Fund partner Joe HedgeHog.
Editor’s Note: This article has been substantially updated to include the denial from the UAE press office.
The Open Network (TON), the blockchain platform spun out of Telegram, unveiled what it described as a new pathway to UAE residency, offering 10-year Golden Visas to applicants who stake $100,000 worth of Toncoin (TON) for three years and pay a one-time $35,000 processing fee.
“Secure your Golden Visa in under 7 weeks from document submission to the Visa Office,” TON announced Saturday, detailing that its UAE-based partners will manage the visa processing and residency status confirmation.
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