Toncoin (TON), the primary asset of The Open Network, showcased significant growth following the announcement of the Golden Visa program in the United Arab Emirates. This initiative attracted investor attention by offering permanent residency in exchange for cryptocurrency investments.
What Does the Golden Visa Offer?
The novel program requires investors to maintain their crypto holdings in a specified wallet, locked for a three-year duration using a smart contract mechanism. This ensures autonomy over the assets without third-party intercession, while offering investors an annual return of 3% to 4%.
This visa includes the applicant’s immediate family, including spouse, children, and parents, with the UAE application fee remaining at a standard $35,000. Underpinned by the decentralized framework of the TON Blockchain, the entire procedure is transparent and fully automated.
How Does Collaboration Elevate TON Coin?
In the wake of this initiative, trading volumes surged, propelling TON’s price to approach significant resistance levels. Experts highlight that collaboration with Telegram’s vast user community grants the program an initial edge, facilitating its adoption and growth.
Prospects for Toncoin and Global Reactions
The application timeline, anticipated to conclude in about seven weeks, may position the UAE as the swiftest avenue for integrating cryptocurrency into immigration processes, possibly inspiring similar initiatives globally. Industry leaders assert this development magnifies the concept of self-sovereign digital identities, projecting that it’s likely to incite a lasting demand boost within the TON ecosystem.
With such a promising start, Toncoin’s trajectory suggests potential for further accomplishments. Observers are eager to see how other countries might react and whether they propose comparable opportunities to attract crypto investments.
