Quick Takeaways:
- Pineapple Financial is migrating a $10 billion mortgage portfolio to Injective’s blockchain.
- $716 million in mortgage data is already tokenized, with 29,000 loans planned next.
- The shift aims to enhance transparency, compliance, and automated workflows.
Pineapple Financial Begins Large-Scale On-Chain Migration
Pineapple Financial has started shifting its $10 billion mortgage portfolio on-chain using Injective’s blockchain network.
The fintech company, also Injective’s largest publicly traded INJ holder, has already tokenized $716 million in funded mortgages.
It plans to migrate data from more than 29,000 additional loans.
Why Pineapple Is Moving Mortgage Data Onchain
The firm detailed the initiative in a post on X. It said each loan record now sits on a verifiable and immutable reference point.
Each mortgage includes more than 500 data fields, giving underwriters and investors access to deeper and more consistent information.
Pineapple noted that on-chain records will improve servicing, reporting, and risk management across its platform. The company added that the move enhances auditability.
Every update creates a tamper-evident trail, helping streamline regulatory reporting.
This reduces manual reconciliation, which often slows traditional mortgage workflows.
Automation, Compliance, and New Products Ahead
Pineapple said that updates to mortgage files will now tie directly to on-chain fingerprints.
This gives teams a single truth source for document tracking, version control, and portfolio analytics.
The shift is expected to unlock major efficiency gains through automated workflows.
The company also sees this new data infrastructure supporting future products.
These include a Mortgage Data Marketplace and Pineapple Prime, both designed to leverage verified, standardized loan data.
Pineapple emphasized that tokenizing $716 million in mortgages is only the beginning of a much larger rollout.
Why Injective Was Chosen for the Integration
Pineapple selected Injective for its high throughput and strong security guarantees.
The network enables verification of rich loan-level datasets while preserving Pineapple’s control over its platform architecture.
The firm highlighted this as essential for a portfolio of its size.
Pineapple also holds Injective’s native token, INJ, as a reserve asset.
Its treasury strategy launched in September, and the company now owns 678,353 INJ, according to public data. Retail and institutional interest in Injective has surged.
Token Terminal data shows daily active users jumped from 6,900 in January to 77,600 in December.
Still, the price has underperformed, falling 30.1% this month to $5.37 at press time.