Israel Launches First Shekel‑Backed Stablecoin

Bits of Gold, a Tel Aviv–based crypto exchange, has received official approval to launch BILS, a stablecoin pegged to Israel’s national currency. The decision follows a comprehensive two‑year review and a trial run, underscoring the regulator’s commitment to safeguarding digital assets.

Key Highlights

• Blockchain Platform: BILS operates on the Solana blockchain, chosen for its high throughput and low transaction costs.
• Security Oversight: Fireblocks provided the security infrastructure, while EY conducted a thorough safety audit.
• Global Context: The stablecoin market has exploded, now exceeding $300 billion in total value. Most of these tokens are tied to the U.S. dollar, raising concerns about monetary sovereignty in digital commerce.

Why Israel’s Shekel Matters

Israel’s shekel is a resilient currency, bolstered by a robust tech ecosystem and prudent economic policies. It has appreciated over 20 % against the dollar in the past year, positioning it among the top‑performing currencies of large economies. By anchoring a stablecoin to the shekel, Israel joins other major currencies—such as the euro, yen, and Singapore dollar—that are increasingly relevant in the evolving digital finance landscape.