The Israel Capital Markets Authority has approved Bits of Gold's issuance of BILS, the country's first stablecoin pegged to the shekel. This token is a regulated asset launched by Bits of Gold after a two-year evaluation and pilot program, with support from the Solana Network, Fireblocks, and Ernst & Young. Bits of Gold stated that bringing the shekel onto the blockchain aims to place it alongside currencies already integrated into the blockchain financial system, such as the euro, yen, and Singapore dollar. With the stablecoin market currently exceeding $300 billion, this issuance aims to counter the dominance of dollar-pegged tokens in on-chain payments and uphold digital sovereignty.