The simple explanation
BILS is a digital token on the blockchain whose value is permanently fixed to the Israeli shekel. 1 BILS always equals exactly 1 ILS (New Israeli Shekel).
Think of it this way: if you have 1,000 shekels in a bank account and want to send them to someone in New York, you'd normally wait days and pay high fees. With BILS, you convert those 1,000 ILS into 1,000 BILS tokens and send them anywhere in the world in seconds, for near-zero fees.
The recipient can then convert those BILS back to shekels — or use them directly in compatible apps and exchanges.
Key facts at a glance
BILS vs the Digital Shekel: Important Distinction
A common confusion: BILS is not the digital shekel that the Bank of Israel is researching. They are two separate projects with different purposes.
BILS (available today)
- Private stablecoin issued by Bits of Gold
- Approved and supervised by the Israel Capital Market Authority (ICMA)
- Each token is backed 1:1 by Israeli shekels held in segregated bank accounts
- Audited by Ernst & Young
- Runs on the Solana blockchain
- Already operational since April 2026
The Digital Shekel / CBDC (future project)
- Would be issued directly by the Bank of Israel
- Currently in research phase, not yet launched
- Would use infrastructure determined by the central bank
- Would be a state-controlled digital currency
Both initiatives represent different approaches to bringing the shekel onto digital rails. BILS represents a market-driven solution under regulatory supervision. The future CBDC would be a state-driven solution.
If you want to use a digital shekel today, BILS is the only available option. The Bank of Israel's digital shekel may launch in the coming years, but no specific date has been announced.
Who issues BILS?
BILS is issued by Bits of Gold, Israel's oldest and most established crypto exchange, founded in 2013 and serving over 250,000 registered clients. Bits of Gold holds a financial asset service provider license from the Capital Market Authority.
The stablecoin was developed in collaboration with Fireblocks (institutional-grade crypto custody), QEDIT (privacy and compliance technology), and the Solana network. Ernst & Young provides independent auditing.
How is BILS backed?
Every single BILS token in circulation is backed by exactly 1 Israeli shekel held in designated, segregated bank accounts inside Israel. This means:
- ✓The reserves are held separately from Bits of Gold's operational funds
- ✓Ernst & Young audits the reserves independently
- ✓You can always redeem your BILS for real shekels at a 1:1 rate
- ✓No fractional reserve — every token is fully backed
Why does BILS matter?
The global stablecoin market exceeds $320 billion — but nearly all of it is pegged to the US dollar. BILS is one of the first regulated non-dollar stablecoins, giving Israeli users and businesses a way to participate in the digital asset economy using their own currency.
The Israeli shekel has been one of the world's best-performing currencies recently, gaining over 20% against the dollar in the past year. Keeping value in BILS rather than converting to USDT or USDC avoids exposure to US monetary policy.
BILS vs other stablecoins
| Feature | BILS | USDT | USDC |
|---|---|---|---|
| Currency peg | Israeli Shekel (ILS) | US Dollar | US Dollar |
| Issuer | Bits of Gold (IL) | Tether (offshore) | Circle (US) |
| Regulated in Israel | ✅ Yes | ❌ No | ❌ No |
| Blockchain | Solana | Multi-chain | Multi-chain |
| Auditor | Ernst & Young | BDO | Deloitte |