Israel Greenlights Shekel-Pegged Stablecoin BILS Following Pilot

The Capital Market, Insurance and Savings Authority of Israel has officially authorized the issuance of BILS, a stablecoin pegged to the Israeli shekel. Developed by the virtual exchange Bits of Gold, the asset is designed to bridge the gap between traditional Israeli fiat and the global decentralized finance ecosystem. The approval comes after a rigorous two-year pilot phase conducted on the Solana blockchain. This initiative is part of a strategic framework by the Israeli Finance Ministry and the Israel Tax Authority to establish a clear regulatory environment for digital assets and stablecoin activities within the country. To ensure stability and transparency, regulators have mandated that BILS reserve assets be maintained in designated, separate accounts located within Israel. CEO Youval Rouach noted that the coin will facilitate real-time payments, programmable financial applications, and on-chain trading using a regulated local currency. The launch occurs as the global stablecoin market exceeds $320 billion in total capitalization, though it remains heavily dominated by US dollar-pegged assets. Notably, the shekel is currently trading at a 30-year high against the US dollar, valued at 1 ILS to 0.34 USD. While Israel advances its regulatory framework, similar efforts in the United States remain stalled. US Senate legislation regarding stablecoin yields and tokenized equities has faced delays since July 2025, highlighting a divergence in the speed of regulatory adoption between the two regions.