Pineapple Financial, a fintech company and the largest publicly traded INJ holder, is moving its $10 billion mortgage lending portfolio to blockchain through Injective.
The company already has $716 million in disbursed mortgage data on-chain. More than 29,000 additional loans are expected in the future.
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Pineapple Financial’s mortgage portfolio goes on-chain via Injective
In a detailed thread on X (formerly Twitter), the company explained that the initiative will anchor each loan record to a single, immutable and verifiable reference point. According to Pineapple, each record contains over 500 data fields.
Therefore, having detailed loan-level metadata on-chain provides a consistent foundation for underwriting, servicing, and investor reporting.
“This is a major step in modernizing the way mortgage data is stored, verified and used across our operations,” Pineapple Financial said in a statement.
It also enhances compliance and auditability. On-chain records provide a continuous trail of tamper-evident updates. This streamlines regulatory reporting and eliminates many of the manual adjustments typically associated with managing large loan portfolios.
Pineapple Financial added that mortgage file updates are tied to an immutable on-chain fingerprint. This allows for clearer coordination between departments. Efficiency gains are also expected as manual checks such as document tracking, version control, and portfolio-level analysis are replaced with automated workflows.
Additionally, the company said this new data foundation is designed to support additional products such as the Mortgage Data Marketplace and Pineapple Prime.
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“Our goal is a faster, more transparent mortgage ecosystem built on verifiable data. Today, by standardizing loan-level information, we can create automation, better risk management, and “Creating the conditions for new financial products. Pineapple has already tokenized $716 million of data in on-chain savings mortgages, with over 29,000 more loans to follow,” the post reads.
The company also said it selected Injective for this effort due to the network’s high throughput and security features. According to Pineapple Financial,
“Injective provides the infrastructure needed at this scale. Its high-security and high-throughput infrastructure allows us to validate our rich loan-level data while maintaining full ownership of the platform, data structures, and customer-facing products built on top of it.”
It is also worth noting that Pineapple Financial holds INJ, Injective’s native token, as a reserve asset. The company launched its digital asset treasury strategy in September. According to CoinGecko data, there are 678,353 INJ.
Individual interest in INJ is increasing along with institutional investor activity. Injective’s daily active users jumped to 77,600 in December, up from just 6,900 at the beginning of the year, according to Token Terminal data.
Nevertheless, this is not reflected in price strength. INJ is down 30.1% over the past month, lagging the broader crypto market, according to data from BeInCrypto Markets.
At the time of writing, the altcoin is trading at $5.37, representing a decline of 4.83% in the past 24 hours.
