Israel approves first shekel-backed stablecoin BILS after pilot program
Here's what it means for you.
Israel's entry into the regulated cryptocurrency market with BILS could inspire other nations to explore their own digital currencies.
What happened
Israel's regulators approved the BILS stablecoin issued by Bits of Gold.
The Context
- Development: The stablecoin was developed in collaboration with the Solana network and Fireblocks.
- Oversight: Auditing oversight was provided by the Big Four consultancy firm EY.
- Pilot Program: The approval follows a two-year pilot program that tested the stablecoin's functionality.
Takeaway
The introduction of the BILS stablecoin could pave the way for more countries to explore their own digital currencies.
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Israel clears first shekel-backed stablecoin after two-year review
Israel has officially approved its first shekel-backed stablecoin, known as BILS, after a two-year review process. This stablecoin, developed by Bits of Gold, is pegged to the Israeli shekel and marks a significant step in the country's cryptocurrenc...
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A digital shekel is here: Israel approves its first regulated stablecoin
Israel has officially approved its first regulated stablecoin, BILS, which is pegged to the Israeli shekel. Developed by Bits of Gold in collaboration with the Solana network and crypto custodian Fireblocks, the stablecoin received auditing oversight...
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Israel approves BILS shekel stablecoin after Solana pilot
Israel has officially approved the BILS stablecoin, which is pegged to the shekel and developed by Bits of Gold, following a successful two-year pilot program utilizing the Solana blockchain. This marks a significant step in the integration of crypto...
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Israeli regulators approve shekel-pegged stablecoin
Israeli regulators have granted approval for the BILS stablecoin, which is pegged to the shekel and issued by the Israeli exchange Bits of Gold, following a two-year pilot program utilizing the Solana blockchain.