Middle East · GDP rank #28
Israel
IL · ILS @ 0.3460/USD
Israel runs a card-mature, bank-dominated retail payments market with one wholesale rail (ZAHAV, the BOI-operated RTGS, fully on ISO 20022 since November 2025) and one retail-instant rail (MASAV Faster Payments) underneath the consumer-facing Bit (Bank Hapoalim) and Pay (Bank Leumi) wallets. Bit alone holds roughly half of P2P value across ~3.3m active users. The Capital Markets Authority issued the country's first shekel-pegged stablecoin authorisation in 2024 and the Bank of Israel's digital-shekel design work hands a launch recommendation to the Governor at end-2026.
Tab 08
Pulse
The preceding ~90 days of macro, regulation, product, funding and milestone events. Each item is primary-sourced; no trade-press echo.
- 4 days agodata
Shekel hits 2.89 vs USD — strongest G10 currency over trailing 12 months
USD/ILS hit 2.89 mid-market on 22 May, capping a year of broad-based shekel strength (+20.6% trailing 12-month) on tech-export tailwinds and post-war recovery. BOI has refrained from intervention through the appreciation; FX reserves remain near record at US$220bn+.
- #fx
- #macro
- #boi
Source: Bank of Israel
- 4 weeks agomilestone
Israel Tech Week Miami opens with 45+ VCs targeting fintech, AI tracks
Second-edition Israel Tech Week in Miami runs 27-30 April with fintech among nine featured sectors. Boldstart Ventures, Blumberg Capital and Qumra Capital among confirmed LPs; the event has emerged as the leading US-facing showcase for Israeli fintech post-October 2023.
- #vc
- #fintech
- #events
Source: Refresh Miami
- 6 weeks agoregulation
BOI publishes Digital Shekel design responses analysis
Bank of Israel released its analysis of public and industry responses to the March 2025 preliminary CBDC design document. Yoav Soffer's team reiterated end-2026 hand-up of a launch recommendation to the Governor; offline functionality and holding limits are the live design questions.
- #cbdc
- #digital-shekel
- #boi
Source: Bank of Israel
- 2 months agoregulation
CMA issues fine against Bitin exchange for unlicensed operations
The Capital Markets Authority blocked access to Bitin and imposed an ILS 1.7m fine, the first major enforcement under the post-2024 crypto-asset services regime. Reinforces a licensing-first signal to international exchanges; consultations on a Bits of Gold-style broader regime continue.
- #crypto
- #regulation
- #cma
Source: Capital Markets, Insurance and Savings Authority
- 3 months agom&a
Bank Hapoalim raises US$2bn international bond — order book US$7bn
Hapoalim's largest overseas bond issuance to date drew US$7bn of demand. Proceeds underwrite digital-banking investment and Bit / Bit Business product expansion; the order-book scale signals normalised international risk-appetite for Israeli bank paper.
- #bank-hapoalim
- #funding
- #bit
Source: Bank Hapoalim
- 3 months agomilestone
ZAHAV ISO 20022 migration completes implementation cutover
Bank of Israel confirmed final cutover of ZAHAV RTGS operations to native ISO 20022 messaging, enabling structured payment-message data and aligning Israel with euro-area and US wholesale-payments standards. MASAV extension on the same envelope is the next roadmap item.
- #rtgs
- #zahav
- #iso-20022
Source: Bank of Israel