Pineapple Financial Begins Onchain Migration of $10B Mortgage Portfolio on Injective Blockchain
Pineapple Financial has launched a mortgage tokenization platform on the Injective blockchain and is starting to migrate its loan records onchain. The company aims to migrate its entire historical portfolio of more than 29,000 funded mortgages valued at about $10 billion (C$13.7 billion) onto the blockchain.
Currently, over 1,200 originated mortgage files, representing approximately $412 million (C$570 million) in funded mortgage volume, have been tokenized onchain. Each tokenized mortgage record contains over 500 data points, supporting a permissioned data marketplace and an onchain mortgage-backed yields product.
The platform features two key products: the Mortgage Data Marketplace, which provides compliant access to anonymized loan data, and Pineapple Prime, offering onchain access to mortgage-backed yield opportunities. This initiative aims to establish an auditable, tamper-resistant dataset to streamline workflows, enable automated verification, provide real-time audit trails, and improve risk modeling and compliant data sharing.
CEO Shubha Dasgupta highlighted enterprise-grade encryption, identity and access controls, continuous monitoring, and secure data governance as essential security measures. Additionally, the platform includes a real-time metrics tracker on its tokenization landing page that updates as assets are minted onchain.
Pineapple Financial operates a Canadian mortgage brokerage network and offers cloud-based tools and AI-driven systems for brokers, supporting more than $2.2 billion (CAD) in annual funding capacity.
