Pineapple Financial Brings $1 Billion in Mortgages On-Chain Pineapple Financial, trading on NYSE American under the ticker PAPL, confirmed on September 4 that it has moved a portion of its fu
Pineapple Financial, trading on NYSE American under the ticker PAPL, confirmed on September 4 that it has moved a portion of its funded mortgage portfolio onto Injective, a layer-1 network built around financial applications. The migration currently covers 2,079 mortgage records, up from 1,259 when the initiative began in December 2025, with each record containing more than 500 data points per loan to support verification, audit trails, and risk analysis.
The move represents a different approach to real-world asset tokenization. Instead of creating a new investment product backed by mortgages, Pineapple is using blockchain infrastructure to record and verify existing loan information. The tokens do not represent ownership of the underlying mortgage loans. Instead, they represent records associated with the mortgage portfolio, creating an on-chain representation of loan data rather than a direct claim on the assets themselves.
Pineapple has disclosed plans to eventually migrate its entire historical portfolio onto the blockchain, which includes more than 29,000 funded mortgages valued at upwards of $10 billion. Beyond the mortgage tokenization program, Pineapple also maintains a $100 million treasury position in Injective tokens, with Kraken functioning as a key validator for its staked assets.
The milestone makes Injective one of the largest layer-1 chains by total value of tokenized real-world assets. RWA(.)xyz has begun listing Injective among the leading blockchains by tokenized asset value, a recognition that reflects the pace of the network's institutional partnerships over the past year.
Injective Mint, a platform that allows institutions to define, configure, and manage tokenized assets without writing custom smart contracts, is currently running in private alpha. At the protocol layer, Injective Mint extends the network's institutional infrastructure by providing a unified platform for issuing real-world assets with embedded compliance controls, allowing institutions to configure permissions, transfer restrictions, custody integrations, and governance systems through a single issuance workflow.
POSCO International, South Korea's largest trading company, and LG CNS, the technology arm of LG Group, selected Injective for an exclusive live pilot that issues, transfers, administers, and settles trade receivables generated by real international commerce. In August 2026, Injective also secured SEC registration as a transfer agent through its affiliate Injective Institutional Services, a credential that allows it to officially maintain records of security ownership, process transfers, and handle related administrative functions under SEC oversight.
Taken together, the Pineapple partnership, the enterprise pilots, and the regulatory groundwork signal that Injective is positioning itself as infrastructure for institutional asset tokenization rather than a platform aimed solely at retail crypto participants.
Sources:CoinMarketCap: Pineapple Financial Tokenizes $1B in Mortgages on Injective BlockchainInjective Blog: Injective is Now an Official SEC Registered Transfer AgentCoinDesk: Pineapple Financial Starts Migrating its $10B Mortgage Portfolio Onchain via Injective
