CZ Drops Bombshell: BNB-Powered Visa Card in the Works as Crypto Debate Heats Up

Binance's boss just tossed gasoline on the crypto payments fire. Changpeng Zhao's cryptic tweet about a BNB-linked Visa solution hits as regulators sharpen their knives.

The move could turbocharge mainstream adoption—or become another punching bag for anti-crypto politicians. Either way, the timing's delicious.

Imagine: swiping a Binance card for your oat milk latte while central bankers hyperventilate. The irony writes itself.

In brief

• Changpeng Zhao (CZ), former CEO of Binance, spoke about the possibility of a golden visa program for BNB holders, inspired by a model recently launched by TON.
• The Open Network (TON) had announced a 10-year visa in the Emirates in exchange for staking $100,000 in Toncoin and paying $35,000 in fees.
• This TON program promised a yield of 3 to 4 % per year and a fast procedure but received no validation from Emirati authorities.
• In response to this controversial announcement, CZ reacted cautiously, questioning the veracity of the TON program while hinting that a similar model could be considered for BNB.

TON and the mirage of the Emirati golden visa

On July 6, The Open Network (TON), a blockchain project supported by Telegram, published an offer promising a 10-year residence visa in the United Arab Emirates, accessible via staking $100,000 in Toncoin (TON), while the network had suffered a technical failure on June 1.

A one-time processing fee of $35,000 was added to this. In the official statement, TON assured that “the issuance of the visa could take place in less than 7 weeks from the submission of documents“, and that the program covered immediate family members (spouses, children, and parents) without additional fees beyond standard administrative charges.

The program relied on a smart contract guaranteeing the preservation of funds by the user during the lock-up period, while offering an estimated yield of 3 to 4 % per year.

The offer details were presented as a more accessible alternative to classical golden visa routes. TON highlighted an entry cost much lower than traditional pathways, as seen in the summary below :

• The required amount : $100,000 of TON staked for 3 years, versus a minimum of $500,000 in real estate ;
• Processing fees : $35,000 ;
• Coverage : the visa extends to close family ;
• Announced timing : less than 7 weeks ;
• Funds control : kept via a non-custodial smart contract on the TON blockchain ;
• Announced yield : 3 to 4 % per year on locked tokens.

However, this initiative was quickly denied by local authorities. In an official message, Emirati regulators, the ICP (Federal Authority for Identity and Citizenship), the SCA (Securities and Commodities Authority), and the VARA (Virtual Assets Regulatory Authority), declared that “crypto investors are not among the categories eligible for golden visas“.

The statement also specifies that TON is not regulated by VARA, and that the announced program has no government approval. This clarification highlights that, despite the widespread use of the term “Golden Visa”, the program was a private initiative with no recognized legal framework.

CZ holds back and considers a BNB model but demands guarantees

In the wake of the TON affair, Changpeng Zhao also spoke out. On the social network X (formerly Twitter), he reacted cautiously, publicly questioning the validity of the TON program : “Is it true ? It WOULD be great if it is. But so far, I have received conflicting information”, he wrote.

If it is real, we will definitely try to get it on BNB too.

A few hours later, CZ revealed that the crypto exchange Binance might consider a similar offer for BNB holders: a program based on staking the native token of the Binance ecosystem, in exchange for access to long-term residency in the Emirates.

However, the former leader was careful to qualify his remarks, emphasizing the need to validate any initiative with the competent authorities. “I would expect a project like this to be supported by a government partnership and to be the subject of an official announcement. It could always be true, I’m just saying I haven’t been able to verify it”, he clarified.

This stance contrasts with the approach taken by TON, which appears to have anticipated regulatory approval. CZ, who personally received an official golden visa when settling in Dubai, understands the administrative mechanisms from inside.

He knows that this type of program cannot be launched without a clear legal framework or explicit approval from a supervisory authority. By publicly mentioning the idea without formally announcing it, CZ sends a signal: Binance, whose unrealized profits on Bitcoin are soaring, wants to innovate in this area but will not cross the line without certification.

In the medium term, if such an initiative were to materialize, it could reshuffle the cards in the competition among blockchains to attract HNWI (High Net Worth Individuals) investors to areas like the United Arab Emirates. However, the swift reaction of the authorities shows that the use of the term “Golden Visa” for marketing purposes will no longer be tolerated without regulation. Binance, whose reputation is already under international scrutiny, cannot afford to make a mistake on such a sensitive topic.

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