A digital shekel is here: Israel approves its first regulated stablecoin

Policy Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email 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. By Jamie Crawley | Edited by Sheldon Reback Apr 28, 2026, 10:39 a.m. Make preferred on Israel shekels (Ri_Ya/Pixabay) What to know : Israel granted approval for the first stablecoin pegged to the shekel. Bits of Gold was authorized to issue the BILS token under a rulebook set out by the Capital Market Authority. The shekel is one of the world's best-performing currencies against the dollar this year. Israel's Capital Market Authority granted approval for a stablecoin pegged to the shekel for the first time. Tel Aviv-based cryptocurrency exchange Bits of Gold received authorization to issue the token after a two-year evaluation and pilot process, the authority said in a post on LinkedIn. The token, BILS, was developed in collaboration with the Solana network and crypto custodian heavyweights Fireblocks with auditing oversight provided by Big Four consultancy firm EY, Bits of Gold said in an emailed statement. The size of the stablecoin sector — crypto tokens pegged to the value of a traditional financial asset, usually a fiat currency — has surged in the last 18 months to more than $300 billion fueled by the establishment of formal regulatory regimes in major markets such as the U.S. The overwhelming dominance of U.S. dollar-pegged tokens in the sector has prompted concerns in markets outside the U.S. about the threat of losing financial and digital sovereignty if onchain payments all default to dollars as their unit of account. "The Israeli shekel has emerged as one of the stronger performing fiat currencies among developed markets, supported by a resilient technology sector and consistent macroeconomic management," Bits of Gold said in its Monday announcement. The shekel has gained more than 20% against the dollar over the past year, according to Visual Capitalist, making it the best-performing currency among countries with an annual gross domestic product (GDP) exceeding $250 billion. "Bringing the shekel onchain positions it alongside other leading currencies, including the euro, yen and Singapore dollar, that are beginning to gain traction in blockchain-based financial systems," the company said. Stablecoins More For You Canada’s crypto donation ban clears key vote with support from Conservatives By Sam Reynolds , AI Boost | Edited by Sheldon Reback 19 hours ago Bill C-25, the Strong and Free Elections Act, cleared second reading Friday and heads to committee as Conservative lawmakers raise but don’t challenge the proposed ban on bitcoin contributions What to know : Canada’s Bill C-25, which would ban crypto donations to federal political campaigns by classifying them alongside other hard-to-trace funding methods, passed a second reading in the House of Commons and moved to committee review. The proposal covers all major participants in federal elections, including parties, candidates and third-party advertisers, requiring... Read full story Latest Crypto News Jack Dorsey's Block nears 9,000 bitcoin in treasury after Q1 addition 47 minutes ago Bitmine's ether buys are catching up to Strategy's bitcoin accumulation pace 2 hours ago Ondo Finance adds proxy voting for holders of its $700 million tokenized equities 3 hours ago Three Bank of Japan members call for a rate hike; yen rises while bitcoin falls 4 hours ago What next as XRP drops 3% under $1.40 on strong selling 5 hours ago Bitcoin loses $77,000, ether, solana slide as Hormuz standoff lifts oil to 3-week high 5 hours ago Top Stories Industry leaders are pouring hundreds of millions into a rescue plan for Aave users after massive crypto hack 13 hours ago A long-time developer wants to split Bitcoin blockchain and reassign Satoshi coins. The community is calling it a theft Apr 27, 2026 Western Union eyeing stablecoin launch to settle global transactions without SWIFT, CEO says 14 hours ago Michael Saylor’s Strategy buys 3,273 bitcoin as it inches closer to its 1 million target 20 hours ago