Meghalaya Marks Historic Milestone with First-Ever Sea Shipment of 15 MT Ginger to Dubai’s Lulu Group

The Department of Agriculture and Farmers Welfare, Government of Meghalaya, has marked a historic milestone with the first-ever sea shipment of 15 MT of Meghalaya Ginger to Dubai’s Lulu Group in collaboration with Agricultural and Processed Food Products Export Development Authority (APEDA).

This achievement, facilitated by the Eastern Ri-Bhoi Organic Farmer Producer Company (FPC), reinforces Meghalaya’s commitment to enhancing its agricultural exports and integrating its farmers into global value chains. The consignment was flagged off in a ceremonial event attended by esteemed dignitaries from APEDA, Ministry of Economic Affairs and International Fund for Agricultural Development (IFAD) marking a new chapter in the state's efforts to promote organic and high-value agricultural produce internationally.

Meghalaya’s agricultural sector has long faced unique challenges, including fragmented landholding, limited credit access, and working capital constraints for FPOs. However, through strategic government interventions, cooperatives have successfully aggregated and marketed ginger collectively, demonstrating that farmer-led initiatives can drive scalable and sustainable growth.

The Eastern Ri-Bhoi Organic FPC, established in 2017 under the Mission Organic Value Chain Development for the North Eastern Region (MOVCD-NER), has played a pioneering role in facilitating this export. The FPC, which began with limited infrastructure, has now expanded its operations significantly, processing ginger with modernized washing, slicing, drying, and packaging facilities.

Today, the FPC supports over 500 member farmers from 9 villages, ensuring better price realization and market access. Over the years, this collective has increased its revenue from ₹17 lakh in 2018-19 to ₹374 lakh in 2023-24, illustrating the immense potential of farmer-led enterprises when given the right support.

The flag-off ceremony, held in Shillong, was attended by key dignitaries, Shri Abhishek Dev, IAS, Chairman, APEDA, Shri Abdelkarim Sma, Country Director, International Fund for Agricultural Development, Mr. Revistar Kharumnuid, Chief Executive Director, Eastern Ri-Bhoi Organic Farmer Producer Company and Smt. B. Mylliem Umlong, Director of Horticulture, Government of Meghalaya.

Shri Abhishek Dev, IAS, Chairman, APEDA underscored the significance of sea shipment in making Indian agri-exports competitive. "Sea shipment is crucial as it ensures cost competitiveness. We have developed a dedicated sea protocol, and I am hopeful that with close coordination among stakeholders, our shipments will be well received in the UAE market."

Reflecting on Gulf Food 2024, he added, "There is immense excitement for Indian products, and we have been invited as the partner country for the next edition. I urge stakeholders to plan early participation in Gulf Food 2026 (January 26-30) and prominently showcase Indian ginger."

Highlighting the potential of organic exports, he noted, "The organic tag ensures a 30-40% higher price realization. APEDA is fully committed to supporting stakeholders in organic certification, and with Meghalaya’s own certification body, this process will now be easier." On ginger exports, he affirmed, "This is not a one-off event. We will see more such flag-offs in the future as we continue expanding India's agri-export footprint."

Binance Gets Dubai’s Virtual Asset License To Enable Its Operations in the Region

 

Binance is among the first global VA exchanges to receive a fully governed license to offer prudentially regulated crypto trading services to sophisticated investors

Binance today announced that it has been granted a Virtual Asset License to enable it to operate within Dubai’s ‘test-adapt-scale’ virtual asset market model as a base for expansion into the region. Under the Virtual Asset Regulatory Authority (VARA) initial regulatory phase, which includes rigorous regulatory oversight and mandatory FATF compliance controls, Binance will be permitted to extend limited exchange products and services to pre-qualified investors and professional financial service providers.

 All licensed VARA service providers will be monitored progressively to open access to the retail market.  In addition to its exchange operations, Binance will anchor a blockchain technology hub in the Dubai World Trade Centre, to seed new talent and build a vibrant blockchain ecosystem.  

Changpeng Zhao (CZ), founder and CEO of Binance, said: “High standards of regulation and compliance are critical to the development and maturing of the global crypto and blockchain industry, which is why our team has been working tirelessly to demonstrate how we meet and exceed the requirements of regulators such as the Dubai Virtual Asset Regulatory Authority.”

"Binance is appreciative of being awarded this license in such a progressive regime, targeting uncompromised governance and market security. The collaborative way in which Binance has been engaged to bring proven industry compliance leading experience to the Dubai ecosystem is indicative of the unique operating model that the VARA is creating for the global industry."

Commenting on Binance joining the new Virtual Asset ecosystem, Helal Saeed Almarri, Director General of Dubai World Trade Centre Authority that houses VARA said, “The new VARA is symbolic of Dubai’s confidence in the potential of this future economy driver - if introduced with prudence and legitimacy. To this end, our regime is structured to catalyse collaboration, foster innovation, and most critically secure public interest. Onboarding Binance within the VARA is reflective of their commitment to the Dubai agenda - to provide the global industry the certainty of governance, enabled by ‘shared industry responsibility’ and legislative security for society.”

Dubai is the first global economy to have set up a specialised regulator for the VA sector and will be further developing this VARA governed ecosystem of credible, reputable and innovative international leaders. The VARA issued Virtual Asset Exchange License ensures Binance will be able to operate its regional business from Dubai in the newly announced regulatory ecosystem that is subject to comprehensive legislation and internationally applicable policy frameworks. 

About Binance 

Binance is the world’s leading blockchain and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users and features an unmatched portfolio of crypto products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. For more information, visit: https://www.binance.com 

Binance Signs Agreement to Participate in World’s 1st Virtual Asset Ecosystem With Dubai World Trade Centre Authority

Memorandum of Understanding outlines vision to accelerate the set-up of a new industry hub for Global Virtual Assets

Binance, the world’s leading blockchain and cryptocurrency infrastructure provider, and the Dubai World Trade Centre Authority (DWTCA) have signed a cooperation agreement to help advance Dubai’s commitment to establishing a new international Virtual Asset ecosystem that will generate long-term economic growth through digital innovation.

Building off Dubai's reputation as a global technology leader, the recent announcement establishing DWTCA as the comprehensive zone and regulator for virtual assets comes as a much-awaited signal for the global industry. This first-of-its-kind hub for crypto assets and blockchain services, will fuel entrepreneurship, boost market confidence and accelerate investment.

Dubai’s Virtual Asset ecosystem aims to create a robust regulatory and legislative framework that will support innovation, ensure safe market adoption, and facilitate global acceptance.

As the leading blockchain and cryptocurrency ecosystem, Binance’s commitment to the landmark agreement demonstrates its confidence in Dubai’s future-shaping agenda to tap into a new wave of multi-sectoral growth across the global economy.

Changpeng Zhao (CZ), Founder and CEO of Binance, said: “I am grateful for the confidence the Dubai World Trade Centre Authority has placed in Binance. Together, we share a vision for helping Dubai embrace the new future economy that includes crypto and blockchain. Today, the adoption of crypto and blockchain technology remains in its infancy, but through our leadership position and expertise, combined with the long-term vision of Dubai, we plan to develop a regulatory framework appropriate to fit the fast-moving and progressive nature of virtual assets.”

Binance will also participate in this knowledge-sharing ecosystem with its experience in collaborating with global regulators to aid the development of progressive Virtual Asset regulations. The goal is to help crypto exchanges, or businesses that offer blockchain and DLT services, or a wide range of digital currencies and assets to become licensed in Dubai.

Dubai World Trade Centre Authority remarked: “The new Virtual Assets Hub in Dubai will connect service providers, technology enablers, and governments to co-create the next generation future economy ecosystem for the Virtual Assets industry. Our pioneering ‘test-adapt-scale’ model is designed to accelerate secure, equitable and sustainable access to new growth opportunities, aiding Dubai’s vision for a fully digital and inclusive global society.”

About Dubai World Trade Centre Authority (DWTCA)

Established in 2015, the Dubai World Trade Centre Authority provides a unique and well-regulated ecosystem for businesses seeking local and international opportunities. Strategically positioned in Dubai’s Central Business District, the DWTCA Free Zone provides an ideal environment for startups, SMEs and multinational corporations to operate locally while reaching international markets. Most recently, DWTCA has additionally been established as the world’s first and only comprehensive zone and regulator for virtual assets. The DWTCA Free Zone expands from the iconic Dubai World Trade Centre to the adjoining One Central development, providing world-class commercial infrastructure and services for businesses across a multitude of industries.

Dubai-based rise Launches Mobile Wallet App, ‘Xare’, To Deliver One-Click Debit and Credit Card Payment Solutions to Users Across India

rise launches mobile wallet app, 'Xare', to deliver one-click debit and credit card payment solutions to users across India

Share money instantly with your loved ones no matter where you are, without any extra fee, and using just their phone number

07 December 2020, Mumbai, India: rise, a leading Dubai based financial services platform, has launched 'Xare', a revolutionary mobile app that allows users anywhere in India and globally to share (xare) their account and credit with their loved ones without any additional costs. With Xare, users can share funds instantly, whilst maintaining complete control of their finances, and without sharing sensitive information. 

Xare is different from existing wallets or UPI based players in that it does not move money but moves access to the money. Aimed at increasing financial freedom for individuals, Xare enables users to share money online instantly without any fees and using just the recipient's phone number or just creating Xare links which can be used to share with multiple people at the same time.. Indian users do not need a UPI identification or a bank account to transfer funds. Users can simply add their debit or credit card details and share money with their children, friends or family. Xare also empowers individuals to capitalise on their un-used credit card limit by sharing this facility with others. 

Five advantages of Xare:

1. Instant transfer of funds using just a phone number with no extra cost or using a whatsapp link
2. Complete control and transparency over where the money is spent 
3. No bank account or UPI id needed for any transaction 
4. Share debit/credit card details with children and adults for recurring or one-time share 
5. Capitalize on un-used credit card limit

Padmini Gupta, Co-founder and CEO at Xare, said: "We are delighted to launch 'Xare' in India and introduce many of its features as part of our ongoing efforts to revolutionize financial services. We are committed to providing a myriad of options and solutions to those that have historically been ignored by traditional banks. We have designed this app primarily for expat families offering a hassle-free solution to sharing money. With 'Xare' you just need to register using a valid phone number and can then share your debit and credit card with friends and family; it is also possible to make teenagers part of this ecosystem."

"Months into the pandemic, people have become more cautious about using cash. Digital payments have become the 'new normal'. Our aim is to give customers access to an innovative new payment method that also enables users to give their tribe credit. While we talk about Xare's potential to disrupt several key markets – remittances or family sharing or expense accounts - nothing is more thrilling then the idea that our app allows anyone to be a bank to their tribe, anytime, anywhere."

Still in its beta phase, Xare will be available for online use in India, and globally by early December through the Google Play Store.

Registration takes less than 30 seconds and requires only a valid phone number. Users just need to select a contact from their phone to share their card, and can set daily or monthly limits, and even expiry dates. The app's innovative security system means that card details are never seen by the beneficiary and are not stored by Xare centrally, so they cannot be hacked or compromised. Once issued with a Xare card, beneficiaries can use their card in thousands of stores to purchase more than two billion products globally.

Milind Singh, Co-founder of Xare, commented: "We firmly believe that Xare has the potential to make banking fairer and more humane, and we cannot wait to share our innovative solution with those that can most benefit from it. Moreover, Indian customers are increasingly choosing to purchase goods and services online, driving e-commerce to reach an estimated $225 billion by 2022 - and platforms such as Xare can help drive this convenience. Another factor is that in our country, credit cards are still considered a product for the comfortable sections of the society and not everyone can avail of its benefits. With Xare, our aim is to provide financial services that benefit the masses. The launch of Xare represents an incredibly exciting time for the financial services sector in India, and globally."

About rise – the company behind Xare

rise democratizes access to essential financial services for millions of expatriate workers globally.

Privately founded in 2017, rise is a new age financial services platform that creates fit-for-purpose financial products based on a deep understanding of overseas workers and extensive experience in serving and understanding the GCC market. 

To date, Rise has helped tens of thousands of modest-income workers gain access to bank accounts, remit money globally, understand their financial health, set financial goals and gain access to credit. Our products have been developed specifically to provide overseas workers with a superior alternative to conventional banking services, and to empower expatriates with increased transparency and control over their own finances. We partner with leading financial service institutions regionally and globally, to build financial products that matter, using our AI driven distribution platforms to bring these products to low income expatriate workers everywhere. For more information about rise, visit www.gorise.co