Israel approves the first regulated stablecoin pegged to the shekel

By: rootdata|2026/04/28 11:42:01

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The Israeli Capital Market Authority has approved Bits of Gold to issue the country's first stablecoin pegged to the shekel, BILS. This token is a regulated asset launched by Bits of Gold on the Solana network, with the support of Fireblocks and Ernst & Young, after a two-year evaluation and pilot program.

Bits of Gold stated that bringing the shekel on-chain aims to position it alongside currencies like the euro, yen, and Singapore dollar, which have already entered the blockchain financial system. Currently, the stablecoin market has surpassed $300 billion, and this issuance aims to address the dominance of dollar-pegged tokens in on-chain payments and maintain digital sovereignty.

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