Bits of Gold and Israeli authorities launch BILS stablecoin in regulatory sandbox

ChainCatcher news, according to Bitcoin.com, Bits of Gold and Israeli authorities have launched the BILS stablecoin in a regulatory sandbox. This initiative is led by the cryptocurrency broker Bits of Gold in collaboration with the Israeli Capital Market, Insurance and Savings Authority.

It is reported that the BILS pilot project is set up in a regulatory "sandbox" to assess the performance of the stablecoin on the Solana blockchain, adhering to the international standards and principles outlined by the Bank of Israel.

Youval Rouach, co-founder and CEO of Bits of Gold, stated in a press release: "We are proud to launch BILS, a groundbreaking development that connects digital currency with the Israeli economy. The introduction of BILS marks a significant advancement in integrating digital currency into the Israeli economy while expanding financial accessibility."