What is BILS?

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.

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