Pineapple Financial puts $1B in mortgage records on Injective
The mortgage lender plans to bring more than $10 billion in historical loans onchain, turning thousands of mortgage files into blockchain-based records.
The mortgage lender plans to bring more than $10 billion in historical loans onchain, turning thousands of mortgage files into blockchain-based records.
Pineapple Financial has moved more than $1 billion in residential mortgage records onto Injective, a layer-1 blockchain focused on financial applications, as part of a broader effort to migrate its historical loan portfolio onchain.
Pineapple plans to eventually migrate more than 29,000 funded mortgages worth over $10 billion onto the network, Injective said Friday. Each mortgage is represented by an onchain record tied to the underlying loan file, rather than being repackaged as a new mortgage security.
The mortgage migration is part of Pineapple’s broader relationship with Injective, which includes a separate $100 million Injective (INJ) digital asset treasury. Pineapple stakes INJ from the treasury, with Kraken serving as a primary validator for the holdings.