Injective Reaches New Milestone with Pineapple's $1B Mortgage Tokenization
Pineapple Financial, a company listed on the NYSE American (PAPL), has successfully tokenized over $1 billion in residential mortgage records onto the Injective blockchain. This milestone makes Injective one of the largest layer-1 chains by total value of tokenized real-world assets. The migration is part of Pineapple's goal to move its entire historical portfolio, worth over $10 billion, onto the network.
The process involves creating on-chain records tied to underlying loan files, rather than repackaging them as new mortgage-backed securities. Each tokenized record contains more than 500 data points capturing loan-level information and update history. This standardized approach aims to improve transparency and efficiency in the mortgage market.
Pineapple's dashboard shows that 2,079 mortgage records have been successfully migrated onto Injective, up from 1,259 at the December 2025 launch. The company plans to continue migrating its portfolio over time, with a target of tokenizing its entire historical portfolio worth over $10 billion.