Israel's first shekel stablecoin let's talk BILS

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bit_2014Member
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#1May 14, 2021, 01:48 PM
So, the Capital Market Authority in Israel just gave the green light to BILS, which is the first stablecoin that's been regulated and is pegged 1:1 to the New Israeli Shekel (ILS). Some important details: - It's issued by Bits of Gold, who have been around since 2013 and are licensed. - It operates on the Solana blockchain. - It's completely backed by ILS held in separate bank accounts in Israel. - Ernst & Young have audited it. - Fireblocks is handling custody. This is a big deal since 99% of stablecoins are linked to the USD. BILS is one of the few regulated stablecoins from a developed country that isn't tied to the dollar. I've also created a full educational guide on BILS. Feel free to hit me up with any questions.
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