Israel Approves BILS Shekel-Pegged Stablecoin Framework Issued by Bits of Gold

Israel’s Capital Market, Insurance and Savings Authority has approved the launch of BILS, a shekel-pegged stablecoin to be issued by Bits of Gold, after a two-year pilot program.

“A digital shekel is here: Israel approves its first regulated stablecoin BILS was developed in collaboration with the Solana network and crypto custodian heavyweights Fireblocks with auditing oversight provided by Big Four consultancy firm EY”

@coindesk

Multiple outlets tie the decision to a regulatory sandbox process and to the regulator’s supervision of issuance and operations, with the approval described as the first shekel-backed stablecoin framework.

@coindesk

Finance Magnates says the authority approved “a framework for issuing a shekel-pegged digital currency, BILS,” with the token issued by Bits of Gold “under regulatory supervision.”

Ynetnews similarly reports that “Israel approves first shekel-backed stablecoin for limited launch,” emphasizing “close supervision and strict conditions meant to protect public funds and ensure operational stability.”

Cryptonews.net adds that the regulator granted approval “after a two-year pilot program of the stablecoin on the Solana blockchain,” and it specifies that reserve assets will be held in Israel in “designated and separate accounts.”

Across the coverage, the stablecoin is described as pegged at a 1:1 ratio with reserve assets, with Ynetnews stating “a full 1:1 backing ratio between the issued coins and reserve assets” and Cryptonews.net describing the bridge to “real-time payments, on-chain trading and programmable financial applications.”

The approval also comes with a limited format and predetermined scale, with Ynetnews saying “at this stage, the issuance will take place in a limited format and at a predetermined scale,” and with incrypted stating the asset “will be issued in a limited format” and that “The issuance volume will be set in advance.”

The approval coverage repeatedly returns to how BILS is structured to limit risk and keep reserves under direct oversight.

Finance Magnates says the authority’s sandbox review covered “issuance, custody of client assets, risk management , business continuity, cybersecurity, and compliance,” and it adds that “The currency will be fully backed by the Israeli shekel” and “operate at a 1:1 ratio with reserve assets.”

bloomingbit

Ynetnews likewise emphasizes that the pilot examined “safeguarding customer assets, managing custody risks, daily operations, business continuity, technology risks, information security, cyber protection and compliance with strict regulatory standards.”

Cryptonews.net specifies that reserve assets will be held in Israel in “designated and separate accounts,” and it frames the project as part of a broader effort by the Israel Tax Authority and the country’s Finance ministry to regulate the crypto industry, including “by allowing certain stablecoin activities.”

Incrypted describes the same core mechanics—“The currency’s value will be fully pegged to the shekel at a 1:1 ratio, and the reserve assets will be held in Israel in segregated, dedicated accounts”—and it says operations will run under “strict regulatory oversight, including technology risk management, a high level of information security, business continuity safeguards, and regular reporting.”

Several outlets also stress liquidity and redemption requirements: Ynetnews says “liquidity, offer redemption mechanisms at all times and report immediately to the authority on any unusual incident or material change in activity,” while Finance Magnates says “Liquidity and redemption mechanisms will be available at all times.”

The regulator’s ongoing role is also explicit in the reporting, with Finance Magnates stating “The Capital Market Authority said it will continue supervising the company after approval, with ongoing monitoring of compliance with regulatory conditions.”

The outlets describe BILS not just as a pegged token but as a regulated instrument intended for specific on-chain and settlement functions.

“Tel Aviv, Israel – 27/4/26 – Bits of Gold, the leading regulated digital asset financial services platform in Israel since 2013, announced it has received approval from Israel’s Capital Market Authority to issue and distribute BILS, a shekel-pegged stablecoin”

CCN

Finance Magnates says BILS is “intended for use in liquidity provision, foreign exchange transactions against major stablecoins such as USDC, smart‑contract execution, and global shekel transfers.”

Cryptonews.net similarly frames the stablecoin as enabling “real-time payments, on-chain trading and programmable financial applications based on a regulated local currency,” quoting Bits of Gold founder and CEO Youval Rouach.

Ynetnews adds that the stablecoin is expected to allow “money transfers over blockchain infrastructure, trading in digital assets, fast and efficient settlement between financial institutions and the development of additional blockchain-based financial services.”

The Crypto Times and CCN both emphasize programmable finance and real-time payments, with The Crypto Times saying BILS is “paving the way for programmable finance on the Solana blockchain” and with CCN describing it as “enabling real-time payments, on-chain trading, and programmable financial applications based on a regulated local currency.”

Several reports also specify the technology stack and development partners, with @coindesk stating BILS was “developed in collaboration with the Solana network and crypto custodian heavyweights Fireblocks with auditing oversight provided by Big Four consultancy firm EY.”

Crypto Briefing likewise says “The project is built on Solana's blockchain, uses custody infrastructure from Fireblocks, and was audited by Ernst & Young,” and it describes BILS as “fully backed and pegged 1:1 to the Israeli new shekel.”

The approval drew direct statements from regulators and from Bits of Gold leadership, with outlets quoting the same themes of innovation, integration, and supervised market development.

Finance Magnates quotes Amit Gal, saying the move supports “technological innovation alongside maintaining financial stability, protecting the public of customers and reducing systemic risks.”

CoinCentral

Ynetnews quotes Amit Gal as well, describing the step as “a significant step in developing a modern, innovative and supervised financial market that meets international standards,” and it adds that “It is important for Israel’s continued integration into global financial systems.”

Cryptonews.net and CCN both quote Bits of Gold founder and CEO Youval Rouach describing BILS as “a direct bridge between the Israeli shekel and the global digital assets economy, enabling real-time payments, on-chain trading and programmable financial applications based on a regulated local currency.”

Ynetnews also attributes a similar framing to Yuval Roash, calling the approval “a historic milestone for the Israeli economy,” and it says the BILS coin would serve as “a bridge between the shekel and the new global financial system.”

Incrypted includes a statement that the stablecoin is expected to enable “blockchain-based money transfers, fast settlement between participants, and the development of advanced financial services, while maintaining financial stability and consumer protection,” presenting it as part of the regulator’s rationale.

Several outlets place Israel’s approval within a broader debate about stablecoins, dollar dominance, and pending legislation, while also describing what comes next for BILS and for regulation.

“Daniel Frances is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics”

Coinspeaker

Cryptonews.net says the global stablecoin market capitalization was “more than $320 billion,” dominated by US dollar-pegged stablecoins like Tether’s USDt (USDT), and it adds that in the United States lawmakers debate provisions within a digital asset market structure bill over “stablecoin yield, tokenized equities, and ethics concerns related to US President Donald Trump’s potential conflicts of interest with the industry.”

Coinspeaker

It reports that the legislation has been “effectively stalled in the US Senate since July 2025,” and it “requires a markup by the chamber's banking committee before a potential vote.”

Finance Magnates similarly says the approval comes “ahead of a draft law on stable digital coins, which will be published for public comment,” and it describes the decision as an early stage that will “remain limited in scope at the start.”

Ynetnews also ties the approval to the “expected publication of a draft bill on stablecoin issuance for public comment,” and it states the approval is granted so operations can begin “immediately.”

@coindesk and Coinspeaker both emphasize the shekel’s role relative to dollar-pegged tokens, with @coindesk noting that stablecoin growth has been fueled by formal regulatory regimes and that “The overwhelming dominance of U.S. dollar-pegged tokens in the sector has prompted concerns in markets outside the U.S.”

Incrypted adds a separate regulatory note, saying the step “complements a draft stablecoin bill memorandum, which will soon be released for public consultation,” and it references that “the U.S. Senate is preparing an agreement on stablecoin yield under the CLARITY Act.”