Pineapple Financial, a fintech firm and the largest publicly traded INJ holder, is migrating its $10 billion mortgage lending portfolio onto blockchain through Injective.
The company has already placed data for $716 million in funded mortgages on-chain. It says more than 29,000 additional loans are expected to follow.
Pineapple Financial‘s Mortgage Portfolio Moves Onchain via Injective
In a detailed thread on X (formerly Twitter), the company explained that the initiative anchors each loan record to a single, immutable, and verifiable reference point. According to Pineapple, each record contains more than 500 data fields.
So, the placement of detailed loan-level metadata on-chain will provide a consistent foundation for underwriting, servicing, and investor reporting.
“This represents a major step in modernizing how mortgage data is stored, verified, and used across our entire operation,” Pineapple Financial said.
It also enhances compliance and auditability. An on-chain record provides a continuous, tamper-evident trail of every update. This streamlines regulatory reporting and eliminates much of the manual reconciliation that typically comes with managing large loan portfolios.
Pineapple Financial added that updates to mortgage files are tied to immutable on-chain fingerprints. This allows for clearer coordination across departments. It also expects efficiency gains as automated workflows replace manual checks, such as document tracking, version control, and portfolio-level analytics.
Moreover, the company said this new data foundation is designed to support additional products, including a Mortgage Data Marketplace and Pineapple Prime.
“Our goal is a faster and more transparent mortgage ecosystem built on verifiable data. By standardizing loan-level information now, we create the conditions for automation, improved risk management, and new financial products that were not feasible under legacy systems. Pineapple has already tokenized data for $716 million in funded mortgages onchain, with more than 29,000 loans set to follow,” the post read.
The firm also noted that it chose Injective for this initiative because of the network’s high-throughput and security features. According to Pineapple Financial,
“Injective supplies the infrastructure needed for this scale. Its high-security and high-throughput infrastructure allows us to verify 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 Injective’s native token, INJ, as a reserve asset. The firm launched its digital asset treasury strategy in September. CoinGecko data shows it has 678,353 INJ.
Retail interest in INJ has risen alongside institutional activity. Data from Token Terminal shows Injective’s daily active users jumped to 77,600 in December, a steep increase from just 6,900 at the start of the year.
Injective Daily Users. Source: Token Terminal
Nonetheless, this has not translated into price strength. BeInCrypto Markets data revealed that INJ has declined 30.1% over the past month, trailing the broader crypto market.
Injective (NJ) Price Performance. Source: BeInCrypto Markets
At the time of press, the altcoin was trading at $5.37, representing a 4.83% decline in the past 24 hours.
