Market Action:
The price of TON has risen by more than 10% following the announcement, approaching the $3 level.
Despite this, analysts pointed out that the program is "offered by a private party through TON as a mediator," and has not been officially announced by the UAE government itself.
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🔍 Broader Context:
This announcement comes in the context of the UAE's ongoing efforts to enhance its position as a global hub for digital currencies, having recently approved the stablecoin RLUSD and developed regulations regarding real asset tokens, attracting more than 600 companies to the "Dubai Commodity Trade Center."
📝 Summary:
TON, in collaboration with an Emirati partner, launched a new offering that is linked to a unique idea: earning interest on digital assets in exchange for a chance to obtain a golden visa for long-term residency in the UAE. The program facilitates the process compared to traditional methods, temporarily securing the assets with a lucrative return. However, its credibility is limited as it is considered "not officially governmental" and is viewed as a recent addition to the UAE's ambitions in embracing.