Pineapple Financial puts $1B in mortgage records on Injective
Pineapple Financial has put over $1 billion in residential mortgage records on Injective, a layer-1 blockchain for financial applications, as part of a plan to move its historical mortgage portfolio onchain. The company expects to migrate more than 29,000 funded mortgages worth over $10 billion. Each mortgage is stored as an onchain record linked to the underlying loan file, not as a new mortgage security. The records include more than 500 data points for verification, audit trails, and risk analysis. Pineapple’s migration now covers 2,079 mortgage records, up from 1,259 when the project began. The PAPL0 token tracks these mortgage records and has a market cap of about $1.1 billion, but it does not represent ownership of the loans. This effort is part of a broader Pineapple-Injective relationship that also includes a $100 million INJ treasury.
