A friend provided this so-called "Fidelity Custody Proof." I won't comment on whether it's real or fake; those who understand English should be able to see what this is. This is a balance confirmation letter for a Fidelity account.

The header is Fidelity Investments, dated 2025-04-29.

Addressed to "MyStonks holding Limited," it lists the account registration type as Business, the last four digits of the account as …8002, and the total account value as $50,473,199.00.

Signed by "Clint Brandner, VP, Operations." The footer states "Fidelity Brokerage Services LLC, Member NYSE, SIPC … ©2025 FMR LLC."

This type of letter is a balance/position value confirmation letter that clients request from their broker for reconciliation or to explain to others that "this entity has assets at Fidelity at a certain point in time." It is neither a cooperation announcement nor a custody agreement or regulatory approval.

The lower half of the page: MyStonks' self-made "On-Chain Mapping" table

It lists tokens such as AAPL.M, AMZN.M, GOOGL.M, META.M, etc., on the Base chain, with a "Mapping Ratio of 1:1." This is a mapping list as stated by the project party, which does not equate to third-party audits or endorsements from custodians.

Similarly, I have no intention of debating whether this confirmation letter is real or fake; I will assume it is real. Therefore:

It can prove

It indicates that an account named MyStonks holding Limited had approximately $50.47 million in account value at Fidelity on 2025-04-29 (which could be cash, unsettled funds at the broker, or the total market value of securities/options positions).

However, this was only at that time; four months have passed since then, and I do not know how much is currently on the books or if this account still exists.

It cannot prove

It cannot prove that there is an "official cooperation/custody agreement" between Fidelity and MyStonks, as there is no press release or contract number from Fidelity.

It cannot prove that these assets have been legally "segregated in a dedicated account, specifically held in trust for token holders" (lacking "beneficiary structure/trust/third-party control agreement/account usage restrictions," etc.).

It cannot prove the authenticity and continuity of the "1:1 mapping" (lacking daily reconciliation/third-party audits/verifiable mint-burn and broker settlement reconciliation).

It has no direct relation to "qualifying for public sale/matching tokenized securities" (which does not equate to having Broker-Dealer/ATS/exchange qualifications or market licenses in other jurisdictions).

Doubts!!

The MSB registration shows MyStonks Holding Limited (BVI, Road Town), while this letter states "MyStonks holding Limited, address Las Vegas NV," and the capitalization is inconsistent (legal entity names usually distinguish between uppercase and lowercase letters and punctuation).

Is this the same company? Why does a BVI company use a U.S. address? Provide the company registration certificate + board resolution/account opening documents to clarify entity consistency.

Fidelity's balance confirmation letters can usually be generated in the client backend, with verifiable numbers from Fidelity; recent monthly statements (including CUSIP/stock codes/quantities) are not just "total value."

Can periodic proof of on-chain circulation to the broker/custody of physical holdings be provided (preferably issued by a third-party accounting firm); what are the mint/burn rules and redemption processes, and how can tokens be exchanged back for underlying stocks? What are the thresholds/fees/time limits?

I still say, professionalism is very important.

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