Toronto-based Pineapple Financial has begun tokenizing over 29,000 funded mortgages, worth about $10 billion, onto the Injective blockchain to enable new onchain mortgage-backed products.
Pineapple Financial, a Toronto-based fintech listed on NYSE American, has launched a mortgage tokenization platform on the Injective blockchain and begun migrating loan records onchain. The company has already converted over 1,200 mortgage files, representing $412 million in funded volume, into blockchain-based digital assets. Its long-term goal is to place its full historical portfolio of 29,000+ funded mortgages, worth approximately $10 billion (C$13.7 billion), on the blockchain. Each record includes over 500 data points and will support a permissioned Mortgage Data Marketplace and a planned onchain product, Pineapple Prime, that offers mortgage-backed yields. The company says it is employing enterprise-grade encryption, identity controls, continuous monitoring, and secure data governance to protect client information.