Israel Launches First Shekel‑Backed Stablecoin

The Israeli regulator has given the green light for a new stablecoin tied to its national currency. Bits of Gold, a Tel Aviv‑based crypto exchange, received permission after a two‑year review and trial run. The token, named BILS, works on the Solana blockchain. Fireblocks helped secure it and EY checked its safety records. Stablecoins that match the value of real money have grown fast, now worth more than $300 billion worldwide.Most are linked to the U. S. dollar, which worries other countries about losing control over their own money in digital trades. Israel’s shekel is a strong currency, backed by a solid tech industry and steady economic policy. It has risen over 20 percent against the dollar in the last year, making it one of the best‑performing currencies among large economies. By putting the shekel on the blockchain, Israel joins other major currencies like the euro, yen and Singapore dollar that are gaining use in digital finance.