On May 10, 2025, at 12:00 PM Eastern Time, the on-chain trading platform MyStonks.org announced that it has completed a platform update and officially launched a 100% custodial-backed on-chain US stock token market. MyStonks.org stated thatcrypto users can purchase US stocks through MyStonks, with global asset management giant Fidelity providing stock custody services for platform users, with the first batch ofcustodial assets reaching $50 million.
MyStonks has successfully established a full-cycle process from Fidelity's custody of US stock assets to token generation and destruction on the Base chain. Users can initiate a purchase request for Stonks 100 US stock tokens on the MyStonks platform by transferring USDC or USDT from their self-custodial cryptowallets to the platform. MyStonks will convert these to USD and purchase corresponding share certificates, while simultaneously minting tokensthrough Base chain smart contracts.
Using Apple (AAPL) stock as an example, MyStonks will mint 1:1 corresponding AAPL.M tokens and distribute them to users' on-chain wallet addresses. The minted US stock tokens comply with the ERC-20 standard, with the exchange process using Chainlink oracles as the quoteprovider.
If a user wishes to burn their minted US stock tokens, using AAPL.M as an example, they can initiate a sell request for AAPL.M on MyStonks by connecting their self-custodial wallet. The MyStonks platform will perform the reverse operation, converting AAPL.M to stablecoins and transferring to the user's accountwhile simultaneously burning the corresponding AAPL.M 1:1.
To ensure user asset safety and compliance, MyStonks has partnered with Fidelity, with Fidelity Custody providing custody services for platform users' US stock assets.
A report from Fidelity Custody dated April 29, 2025, shows that MyStonks Holding Limited'sfirst batch of custodial stocks is valued at over $50 million ($50,473,199.00). MyStonks' first batch of custodial securities includes95 stocks such as AAPL, AMZN, DIS, GOOGL, META, MSFT, NFLX, NVDA, with corresponding 1:1 equivalent US stock tokens; and 5 crypto and stock ETFs listed in the United States.
[The rest of the translation follows the same approach, maintaining the original structure and accurately translating the text while preserving technical terms and proper nouns.]
