US EditionA Digital Shekel Is Here: Israel Approves Its First-Ever Regulated Stablecoin
Bits of Gold will issue the coin under strict reserve and redemption rules after a two-year review, officials said.
- The Capital Market Authority approved the first shekel-backed digital currency, BILS, for a limited launch, allowing operations to begin immediately as a first-of-its-kind step in the Israeli financial market.
- Approval followed a two-year review process during which the licensed company conducted a pilot in a regulatory "Sandbox," a controlled framework allowing innovative financial products to be tested under supervision.
- Regulators mandated strict conditions to protect public funds, including maintaining a full 1:1 backing ratio between issued coins and reserve assets held in separate Israeli accounts, plus liquidity and redemption mechanisms.
- Yuval Roash, CEO of the licensed company, called the approval a historic milestone, saying the BILS coin would "serve as a bridge between the shekel and the new global financial system."
- Amit Gal, head of the Capital Market Authority, called this a significant step in developing a supervised financial market meeting international standards, as the authority will continue monitoring the company's compliance.
20 Articles
20 Articles
Israel approves first shekel-backed stablecoin for limited launch
Bits of Gold, a licensed financial asset service provider, will issue the coin under strict supervision, with full 1:1 reserves held in Israel and mechanisms for liquidity, redemption and regulatory reporting
Israel Approves First Digital Shekel Stablecoin BILS Built on Solana
Israel has approved its first shekel-backed stablecoin, marking a major step toward integrating digital assets into its regulated financial system. The token, which is called BILS, has been cleared by the Israel Capital Market Authority after a two-year regulatory pilot, positioning it as the country’s first officially sanctioned fiat-backed stablecoin. Issued by licensed crypto firm Bits of Gold, BILS is designed to operate under strict regulat…
The Israeli Securities and Exchange Commission has given its long-awaited approval for BILS, the country's first legally regulated stablecoin pegged to the local currency, the shekel. Tel Aviv-based cryptocurrency exchange Bits… The article titled "Israel's First Legally Regulated Stablecoin Accepted: It Will Work on This Network" was published...
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