Israeli Regulator Approves Shekel-Pegged BILS Stablecoin

BILS is a privately issued stablecoin from Bits of Gold, a licensed Israeli cryptocurrency exchange, and is pegged 1:1 to the Israeli new shekel. It is not the digital shekel being explored by the Bank of Israel. Built on Solana, BILS is designed to connect the domestic currency with digital asset markets and provide a regulated shekel settlement instrument for real-time payments and onchain transactions.

Israel's Capital Market, Insurance and Savings Authority approved a limited rollout of BILS on April 28, 2026, concluding a two-year regulatory sandbox pilot launched in March 2024. Each BILS is backed by 1 Israeli new shekel, with reserves required to be held in segregated accounts in Israel and audited by EY. The system also uses Fireblocks' custody infrastructure.