📊 On-chain trading platform MyStonks launches tokenized US stock market, with the first batch of $50 million in US stock assets custodied by Fidelity.
The on-chain trading platform @MyStonksCN announced that it has completed a platform upgrade and officially launched a tokenized US stock market fully supported by 100% custody. Crypto users can purchase US stocks through MyStonks, with global asset management giant Fidelity providing custody services for platform users. The first batch of custodied assets amounts to $50 million.
Reportedly, the first batch of securities assets custodied by MyStonks includes token equivalents of 95 US stocks such as $AAPL, $AMZN, $DIS, $GOOGL, $META, $MSFT, $NFLX, $NVDA, and 5 ETFs of cryptocurrencies and stocks listed in the US. The platform is a decentralized crypto asset trading platform created based on the Stonks community CTO (Community Take Over), offering users 100% US stock asset custody support, 1:1 on-chain issuance, and trading of RWA (Real World Assets).
We are excited to announce that MyStonks has completed its upgrade and officially launched the on-chain U.S. stock token market, allowing crypto users to purchase U.S. stocks through MyStonks.
To ensure the security of user assets, we have partnered with the globally renowned asset management platform Fidelity Custody to provide custody services for U.S. stock assets, with the first batch of custodial assets amounting to $50 million.
Starting today, you can purchase up to 100 types of U.S. stock tokens or ETFs on MyStonks.
Let’s take a look at the specific trading process:
On MyStonks, users initiate a request to purchase Stonks100 U.S. stock tokens by transferring USDC or USDT from their wallet to the platform. MyStonks converts it into USD and purchases the corresponding share of securities. Simultaneously, tokens are minted via Base chain smart contracts and sent to the user's wallet.
For example, with Apple (AAPL) stock, MyStonks will mint AAPL.M tokens at a 1:1 ratio corresponding to the share and send the tokens to the user's wallet.
When you no longer wish to hold U.S. stock tokens, such as AAPL.M, you can initiate a request to sell AAPL.M from your self-custody wallet connected to MyStonks. The platform will perform reverse operations, converting AAPL.M into stablecoins and transferring them to your account, while simultaneously burning the corresponding AAPL.M tokens at a 1:1 ratio.
Currently, you can trade 95 types of U.S. stocks, including AAPL, AMZN, DIS, GOOGL, META, MSFT, NFLX, NVDA, and 5 crypto and stock ETFs listed in the U.S. on MyStonks.
Choose from 100 USD assets!
Protecting user asset security is always our top priority!
When users purchase tokens corresponding to stocks, 100% of the assets are custodied by Fidelity, ensuring authenticity, compliance, and auditability.
All buy and sell operations on MyStonks are executed via smart contracts, ensuring immutability and auditability.
Off-chain deposit and withdrawal operations require authorization from a multisig wallet to prevent single-point failures and internal misuse.
Cross-chain asset transfers are completed through audited cross-chain protocols. A time-lock mechanism is implemented to prevent flash attacks.
With this upgrade, MyStonks has also optimized the user experience, including support for on-chain limit order trading, enhanced wallet connection experience, refined user account center, and optimized UI layout.
Welcome to use MyStonks!
About the Stonks Community:
The Stonks community inherits the rebellious spirit of GameStop $GME and cryptocurrency. The community's slogan is: FIGHT! HODL!
Check out the Stonks whitepaper:
Check out the Fidelity Custody report:
Join the $Stonks Chinese-speaking community:

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