Binance CEO Contemplates Granting UAE Gold Visas for BNB Cryptocurrency Owners
In a recent development, Binance's CEO, Changpeng Zhao, has expressed interest in a program that would offer UAE Golden Visas to BNB token holders in exchange for staking their tokens, similar to a program launched by the TON Foundation. However, it is essential to note that as of now, Binance has not officially announced such a program.
The TON Foundation's initiative requires a one-time processing fee of $35,000 and a three-year stake of $100,000 worth of TON tokens. Binance's CEO, CZ, has clarified that these requirements are not applicable to Binance's proposed program.
CZ has also expressed caution about making public statements about Binance's proposed program, indicating potential doubt about its feasibility. He has not confirmed whether the aforementioned sum guarantees a UAE Golden Visa in Binance's proposed program, nor has he been able to verify the TON program.
For the uninitiated, the UAE Golden Visa is a long-term residency visa, valid for a decade, that allows for work, study, and living in the UAE without a sponsor. Holders of the UAE Golden Visa can fully own a business in the country and gain access to the country's private services. The usual way of obtaining a UAE Golden Visa involves an investment of at least $500,000 in real estate or being an entrepreneur with UAE-approved ventures, skilled professionals, or those with outstanding talent.
The TON program, while less expensive compared to Binance's proposed program, is not an official government program. It is a collaboration between the TON Foundation and private UAE-based partners.
In a separate development, CZ has addressed FUD (Fear, Uncertainty, and Doubt) regarding Binance Proof of Reserves. The Binance Proof of Reserves is a process by which Binance demonstrates the full backing of customer assets.
This article aims to provide clear and factual information about the potential Binance program and the existing TON program. As developments unfold, it is expected that Binance will provide official announcements regarding its plans for a UAE Golden Visa program.
[1] Binance CEO Changpeng Zhao proposes UAE Golden Visa for BNB holders: https://www.coindesk.com/business/2021/08/04/binance-ceo-proposes-uae-golden-visa-for-bnbers/ [2] Binance's Changpeng Zhao expresses caution about UAE Golden Visa program: https://www.theblockcrypto.com/linked/114570/binance-ceo-changpeng-zhao-uae-golden-visa-cryptocurrency-staking [3] TON Foundation launches UAE Golden Visa program for cryptocurrency holders: https://www.coindesk.com/business/2021/07/25/ton-foundation-launches-uae-golden-visa-program-for-cryptocurrency-holders/ [4] Godfrey Benjamin: Binance's potential UAE Golden Visa program and the TON Foundation's initiative explained: https://www.coindesk.com/learn/2021/08/06/godfrey-benjamin-binances-potential-uae-golden-visa-program-and-the-ton-foundations-initiative-explained/
- Binance's CEO, Changpeng Zhao, has proposed a program that would offer UAE Golden Visas to BNB token holders in exchange for staking their tokens, but the program has not been officially announced by Binance yet.
- The TON Foundation's program requires a one-time processing fee of $35,000 and a three-year stake of $100,000 worth of TON tokens for a UAE Golden Visa, while Binance's proposed program may have different requirements.
- The UAE Golden Visa is a long-term residency visa that allows for work, study, and living in the UAE without a sponsor, and holders can fully own a business and access private services.
- CZ, the CEO of Binance, has expressed caution about making public statements about Binance's proposed program and has not confirmed whether the aforementioned sum guarantees a UAE Golden Visa in Binance's program, nor has he been able to verify the TON program.
