A fellow member provided this so-called "Fidelity Custody Proof", and I won't comment on whether it's true or false. English-speaking friends should be able to recognize what this is - a Fidelity account balance confirmation letter.
The header is Fidelity Investments, dated 2025-04-29.
Addressed to "MyStonks holding Limited", listing account registration type as Business, last four digits of account ...8002, total account value $50,473,199.00.
Signed by "Clint Brandner, VP, Operations". The footer reads "Fidelity Brokerage Services LLC, Member NYSE, SIPC … ©2025 FMR LLC".
This type of letter is a balance/position value confirmation that customers request from brokers themselves, used for reconciliation or external explanation that "this entity had assets at Fidelity at a certain point in time". It is neither a collaboration announcement nor a custody agreement or regulatory approval.
Lower half: MyStonks' self-made "On-Chain Mapping" table
Listing tokens like AAPL.M, AMZN.M, GOOGL.M, META.M on the Base chain, with "Mapping Ratio 1:1". This is a project-side stated mapping list, not equivalent to third-party audit or custodian endorsement.
Similarly, I have no intention of arguing whether this confirmation letter is true or false, I'll just assume it's true. So:
Can Prove
Demonstrates that an account of MyStonks holding Limited had approximately $50.47 million in account value at Fidelity on 2025-04-29 (possibly a total market value of cash, broker settlement funds, or securities/options positions).
And only at that time. Four months have passed now, how much money is on the account is unknown, and whether the account still exists is also unknown.
Cannot Prove
Cannot prove that Fidelity and MyStonks have an "official cooperation/custody agreement" without Fidelity's own press release or contract number.
Cannot prove that these assets are legally "separately isolated, specifically entrusted for token holders" (lacking "beneficiary structure/trust/third-party control agreement/account purpose limitation").
Cannot prove the authenticity and continuity of "1:1 mapping" (lacking daily reconciliation/third-party audit/verifiable minting-burning and broker clearing reconciliation).
No direct relation to "qualified for public sale/matching of tokenized securities" (not equivalent to Broker-Dealer/ATS/exchange qualifications or market licenses in other destination jurisdictions).
Suspicious Points!!
MSB registration shows MyStonks Holding Limited (BVI, Road Town), but this letter is written to "MyStonks holding Limited, address Las Vegas NV", with inconsistent capitalization (legal entity names typically distinguish case and punctuation).
Is this the same company? Why does a BVI company use a US address? Provide company registration certificate + director resolution/account opening documents to verify entity consistency.
Fidelity's balance confirmation letters are typically generated in customer backend, with verifiable number/verification hotline; recent monthly statements should include CUSIP/stock codes/quantities, not just "total value".
Can periodic proof be provided from on-chain circulation to broker/custodian physical positions (preferably with third-party accounting firm certification); minting/burning rules and redemption process, how can tokens be exchanged back to underlying stocks? What are the thresholds/fees/time limits?
I'll say it again: professionalism is crucial.
