Reserve

Canary

Injective

Pineapple

Pineapple Financial (NYSE American: PAPL) has passed the $1 billion mark in mortgage records migrated onto the Injective blockchain, <a href="https://x.com/injective" rel="noopener noreferrer nofollow">@injective</a> confirmed on Thursday, marking a notable step in the Toronto-based fintech's push to move its entire loan book onchain.
<h2 id="a-loan-book-moving-onchain">A Loan Book Moving Onchain</h2>
<cite>Pineapple Financial has migrated over $1 billion in residential mortgage records to Injective, a layer-one blockchain, in a milestone for onchain asset tokenization.</cite><cite>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.</cite>
<cite>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.</cite><cite>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.</cite>
<cite>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.</cite><cite>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.</cite>
<h2 id="inj-as-a-treasury-reserve-asset">INJ as a Treasury Reserve Asset</h2>
The mortgage migration is one part of a broader commitment to Injective's ecosystem. <cite>Pineapple's partnership with Injective extends beyond mortgage tokenization. The company has also established a $100 million INJ Digital Asset Treasury, staking Injective's native token (<a href="https://x.com/search?q=%24INJ&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$INJ</a>) to support its balance sheet.</cite><cite>This investment into the Injective token makes Pineapple the first publicly traded $INJ holder worldwide.</cite>
<cite>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.</cite>
<cite>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.</cite>
Sources: <a href="https://www.coindesk.com/business/2025/12/10/pineapple-financial-starts-migrating-its-usd10b-mortgage-portfolio-onchain-via-injective" rel="noopener noreferrer nofollow">CoinDesk: Pineapple Financial Starts Migrating its $10B Mortgage Portfolio Onchain via Injective</a> <a href="https://www.newsfilecorp.com/release/264735/Pineapple-Financial-Announces-the-Launch-of-100M-Injective-Digital-Asset-Treasury-Strategy-Becoming-the-First-Publicly-Traded-INJ-Holder-Worldwide" rel="noopener noreferrer nofollow">Newsfile: Pineapple Financial Announces $100M Injective Digital Asset Treasury Strategy</a> <a href="https://blockchain.news/news/pineapple-financial-papl-tokenizes-1b-mortgages-injective" rel="noopener noreferrer nofollow">Blockchain.News: Pineapple Financial Tokenizes $1B Mortgages on Injective</a>

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

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