Pineapple Financial Launches $10B Mortgage Tokenization Platform on Injective Blockchain

The total portfolio volume planned for migration to the blockchain is $10 billion, which includes over 29,000 mortgage loans. At the time of the announcement, more than 1,200 files worth $412 million have already been migrated.

This initiative is part of Pineapple's broader strategy to integrate traditional finance with DeFi technologies. Each tokenized mortgage record contains over 500 data points, ensuring the creation of an auditable, tamper-resistant dataset. This will optimize workflows, automate verification, enable real-time auditing, and improve risk modeling and data sharing with institutions.

The migration process involves converting information from documents and internal systems into digital assets on the Injective blockchain. The company has also launched a dedicated page with a real-time tracker for minting mortgage assets metrics. Among the benefits of tokenization are increased transparency, efficiency, and the ability to create new products, such as a permissioned Mortgage Data Marketplace for anonymized access to information for benchmarking and analytics, as well as Pineapple Prime for access to yields based on mortgage assets.

Pineapple CEO Shubha Dasgupta emphasized:

"This step enhances transparency and efficiency, allowing for the creation of new products. We have implemented state-of-the-art security measures to protect client data at all stages."

The company plans to complete the migration of the full portfolio and continue adding new loans.

This news continues Pineapple's strategy with Injective. Earlier, in September 2025, the company announced the creation of a $100 million digital asset treasury dedicated exclusively to the INJ token and made its first purchase of $8.9 million (678,000 INJ). This made Pineapple the first public issuer to invest in INJ, with support from investors like FalconX, Kraken, and Abraxas Capital. In October, Pineapple completed fundraising and became one of the largest INJ holders, staking tokens for ~12% annual yield.

The Injective community has reacted with enthusiasm to the news. The official Injective account posted:

"Pineapple Financial is starting the migration of its $10B mortgage portfolio to Injective, planning new tokenized products."

Other users are calling it a "historic step for RWA" (Real World Assets) and the "best Christmas gift." Some analysts note regulatory and adaptation risks, but overall, it's seen as a strong signal for integrating traditional finance with blockchain.

In the wake of the announcement, the INJ token price has risen. As of December 10, 2025, INJ is trading around $5.69 USD, with a +7% gain in the last 24 hours. Market capitalization is $569 million, trading volume - $79 million. Over the year, INJ has grown by +78.8%, though still far from its ATH of $52.62.