Pineapple Financial Pours $1 Billion of Mortgage Records onto Injective Blockchain

Pineapple Financial, a Canadian mortgage lender listed on the NYSE American under the ticker PAPL, has made Injective the largest blockchain for tokenized real estate. Over $1 billion worth of residential mortgage records have been migrated onto the Injective blockchain, with more than 2,079 records now on-chain.

The migration, which began in December 2025, represents a 65% increase in record count over roughly nine months. The dollar value of the PAPL0 asset sitting on-chain has climbed to approximately $1.1 billion.

Each mortgage record is a detailed digital representation of the original loan file, packed with more than 500 data points designed for verification and risk analysis. No new securities are being created, and the existing legal and servicing frameworks for each mortgage remain completely intact.

Pineapple Financial's contribution represents the single largest entry in the tokenized real estate category on the Injective blockchain. With its plans to eventually migrate its entire historical portfolio onto the blockchain, which includes more than 29,000 funded mortgages valued at upwards of $10 billion, Injective is poised to cement its position as a leading platform for tokenized real-world assets.

Injective's institutional play has also been bolstered by SEC registration as a transfer agent in August 2026. This credential significantly bolsters its credibility with financial institutions looking to tokenize assets within a regulated framework.