đš Israel Approves First Regulated Shekel Stablecoin on Solana
Israel has officially approved BILS, the countryâs first regulated shekel-backed stablecoin, issued by Bits of Gold. The token will run on Solana, marking a major step in bringing local fiat currency onto blockchain rails.
âą 1:1 Shekel Backing â Each BILS token is pegged to the Israeli shekel, with reserves reportedly held in segregated domestic bank accounts.
âą Regulatory Milestone â Approval followed a two-year supervised sandbox review by Israelâs Capital Market Authority.
âą Built on Solana â Fast settlement speeds and low fees make Solana attractive for payments, transfers, and tokenized finance use cases.
đ Insight: This is bigger than one coin. It signals governments may prefer regulated private stablecoins before launching full CBDCs. If successful, more local-currency stablecoins could follow worldwide.
#Solana #Stablecoin #CryptoNews #blockchain #Payments $SOL $BTC $BNB
