Pineapple Financial has put more than $1 billion of mortgage records on Injective

Pineapple Financial (NYSE American: PAPL) has passed the $1 billion mark in mortgage records migrated onto the Injective blockchain, @injective confirmed on Thursday, marking a notable step in the Toronto-based fintech's push to move its entire loan book onchain.

A Loan Book Moving Onchain

Pineapple Financial has migrated over $1 billion in residential mortgage records to Injective, a layer-one blockchain, in a milestone for onchain asset tokenization. Since the initiative launched in December 2025, Pineapple has migrated 2,079 mortgage records to the blockchain, up significantly from the 1,259 records tokenized at launch.

Each tokenized mortgage record includes more than 500 data points and will underpin a permissioned data marketplace and a planned product offering of onchain mortgage-backed yields. The company has a longer-term goal of moving its historical portfolio of more than 29,000 funded mortgages, totaling about $10 billion (C$13.7 billion), onto the blockchain.

This marks one of the first instances globally of a publicly traded mortgage company tokenizing its own loan book on a public blockchain and integrating onchain data into day-to-day operations. Previously, loan information was scattered across various internal systems and paper files. By migrating this mortgage data to Injective, the company consolidates everything into a single, auditable, and tamper-proof ledger.

INJ as a Treasury Reserve Asset

The mortgage migration is one part of a broader commitment to Injective's ecosystem. Pineapple's partnership with Injective extends beyond mortgage tokenization. The company has also established a $100 million INJ Digital Asset Treasury, staking Injective's native token ($INJ) to support its balance sheet. This investment into the Injective token makes Pineapple the first publicly traded $INJ holder worldwide.

The Injective digital asset treasury strategy attracted participation from leading institutions across both traditional finance and crypto, including FalconX, Monarq, Abraxas, Kraken, Blockchain.com, Canary Capital, and the Injective Foundation.

In addition to building its $INJ treasury, Pineapple intends to integrate Injective's decentralized financial infrastructure into its core mortgage finance operations, including data, servicing, settlement, and real-world asset tokenization.

Sources:
CoinDesk: Pineapple Financial Starts Migrating its $10B Mortgage Portfolio Onchain via Injective
Newsfile: Pineapple Financial Announces $100M Injective Digital Asset Treasury Strategy
Blockchain.News: Pineapple Financial Tokenizes $1B Mortgages on Injective