Israel Approves First Regulated Shekel-Pegged Stablecoin

Bits of Gold has achieved a significant milestone with the approval of its shekel-pegged stablecoin, BILS. The Capital Market Authority's nod allows the platform to issue and distribute BILS, marking the first fully regulated stablecoin tied to the Israeli shekel.

The launch of BILS connects one of the world's strongest-performing fiat currencies to global blockchain infrastructure, following an extensive regulatory sandbox process that evaluated risk management, cybersecurity, and reserve mechanisms. The platform now operates under full regulatory oversight in line with international standards and the framework set by the Capital Market Authority.

The stablecoin market currently exceeds $320 billion in market capitalization, with annual transaction volumes reaching approximately $46 trillion. BILS is expected to support a wide range of use cases, including instant liquidity provision, foreign exchange transactions against major stablecoins, and execution of smart contracts without intermediaries.