
Injective tokenizes over $1B in real estate mortgages as Pineapple Financial scales blockchain migration
Toronto-based mortgage lender Pineapple Financial has migrated over $1.1 billion in residential mortgage records onto the Injective blockchain, establishing the network as a leader in tokenized real estate. The project involves 2,079 individual mortgage records, each containing over 500 data points for enhanced risk analysis and verification. Unlike fractional ownership models, these records serve as digital representations of original loan files while maintaining existing legal and servicing frameworks. Pineapple Financial, listed on the NYSE American as PAPL, plans to expand this migration to its entire $10 billion historical portfolio of 29,000 mortgages. This development is significant as it accounts for the vast majority of the $1.34 billion total tokenized real estate market. Injective’s recent SEC registration as a transfer agent further supports this institutional integration by allowing the network to handle regulated administrative functions. While the growth demonstrates increased market confidence, the concentration of the network's RWA activity on a single issuer presents a notable risk factor. This milestone highlights the ongoing shift toward using blockchain infrastructure for transparent, data-rich record-keeping in traditional finance.











