PANews reported on April 28th that, according to Cointelegraph, the Israeli Capital Markets, Insurance and Savings Authority has approved BILS, a shekel-pegged stablecoin issued by the virtual exchange Bits of Gold. The stablecoin completed a two-year pilot program on the Solana blockchain. The stablecoin's reserve assets will be held in designated and segregated accounts in Israel. The founder of Bits of Gold stated that BILS establishes a direct bridge between the Israeli shekel and the global digital asset ecosystem, enabling real-time payments, on-chain transactions, and programmable financial applications based on regulated local currencies. The stablecoin's launch comes at a 30-year high for the Israeli shekel against the US dollar.