Pineapple Financial migrates over $10 billion in historical loans to Injective, with over $1 billion in mortgage loan records now on-chain
Odaily News: Mortgage lender Pineapple Financial has migrated over $1 billion in residential mortgage loan records to Injective, a Layer 1 blockchain focused on financial applications. The company plans to eventually migrate more than 29,000 issued mortgages with a total value exceeding $10 billion on-chain, with each loan corresponding to one record on the blockchain, without repackaging them into new mortgage-backed securities.
These records contain more than 500 data fields, including loan-level information, used to support verification, audit trails, and risk analysis. Pineapple Financial's dashboard shows that the current number of migrated records is 2,079, up from 1,259 at the project's launch in December 2025. The market value of the PAPL0 asset is approximately $1.1 billion, with tokens representing mortgage loan records rather than ownership of the underlying loans.
Pineapple Financial's partnership with Injective also includes a $100 million treasury in Injective (INJ) digital assets. Pineapple Financial stakes INJ from this treasury, with Kraken serving as the primary validator for related holdings. (Cointelegraph)
