Israeli regulators have approved the launch of BILS, a shekel-pegged stablecoin issued by local virtual exchange Bits of Gold.
summary
- BILS has become one of the first shekel-pegged stablecoins in Israel after approval by the country’s market regulator.
- The gold coins will be held in BILS Bank reserves in Israel through dedicated and segregated local accounts.
- This approval comes after Solana’s two-year trial as Israel moves to regulate stablecoin activity.
The approval came after a two-year pilot program around the Solana blockchain. The Capital Market, Insurance and Savings Authority granted approval in a notice on Monday. This move places BILS among the first stablecoins directly linked to the Israeli shekel.
According to advertisementBILS Bank’s reserve assets in Israel will be held through dedicated and segregated accounts. This structure is intended to support oversight while the state builds rules for digital assets.
The project forms part of a broader campaign undertaken by Israel tax The Authority and the Ministry of Finance to regulate crypto activity. This effort includes allowing select stablecoin operations under local supervision.
Bits of Gold says BILS links the shekel to cryptocurrency markets
Yuval Rawash, founder and CEO of Bits of Gold, said the stablecoin will connect the Israeli currency to blockchain-based financial services.
“BILS creates a direct bridge between the Israeli shekel and the global digital asset economy, enabling real-time payments, cross-chain trading and programmable financial applications based on a regulated local currency,” Rawash said.
The launch also comes in the wake of the growing use of stablecoins in global cryptocurrency markets. As of press time, the stablecoin market was worth over $320 billion, with tokens tied to the US dollar such as Tether’s USDT leading the sector.
Stablecoin rules are still under review in the United States
Israel’s approval comes as other markets continue to debate stablecoin rules. In the United States, lawmakers remain unchanged discussion Digital Asset Market Structure Bill Covers Return of Stablecoins, Token Shares, and Ethical Concerns Related to President Donald Trump’s Cryptocurrency Links.
The bill has been pending in the US Senate since July 2025. It still needs to advance from the Senate Banking Committee before it can move toward a potential vote.
