Pineapple Financial Reaches $1B in Onchain Mortgage Records
Pineapple Financial has made significant strides in its mission to digitize mortgage records on Injective, a layer-1 blockchain. The company's Onchain Mortgage Records have surpassed $1 billion in value, with plans to migrate over 29,000 funded mortgages worth more than $10 billion onto the network.
The migration process involves creating onchain records tied to the underlying loan files, containing over 500 data points for verification, audit trails, and risk analysis. As of December 2025, Pineapple's dashboard shows that 2,079 mortgage records have been migrated, up from 1,259 when the initiative began.
The success of this project is reflected in the growing market cap of PAPL0, which tracks the mortgage records onchain and has reached $1.1 billion, a 48.2% increase over the past nine months, according to Token Terminal data.