Pineapple Financial Tokenizes Over $1 Billion in Mortgages on Injective Blockchain

Pineapple Financial, a Toronto-based mortgage lender listed on the NYSE American under the ticker PAPL, has successfully migrated over $1 billion worth of residential mortgage records onto the Injective blockchain. This move positions Injective as the largest blockchain for tokenized real estate, with Pineapple contributing significantly to the sector's growth.

The total number of on-chain mortgage records has increased to 2,079, marking a 65% rise since the project's launch in December 2025. The value of the PAPL0 asset on the blockchain has reached approximately $1.1 billion, underscoring Pineapple's dominance in the tokenized real estate market, which currently totals around $1.34 billion across all chains.

Pineapple Financial plans to migrate its entire historical portfolio, which includes over 29,000 funded mortgages valued at upwards of $10 billion, onto the blockchain. Additionally, the company holds about $100 million in INJ tokens, the native cryptocurrency of the Injective platform. This strategic move comes as Injective has also secured SEC registration as a transfer agent, enhancing its credibility with financial institutions looking to tokenize assets in a regulated environment.

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Source: KLEA News