Pineapple Financial moves $1 billion mortgage records to Injective blockchain

Pineapple Financial has migrated more than $1 billion in residential mortgage records onto the Injective layer-1 blockchain. The company stated it will eventually move an additional 29,000 funded mortgages valued at over $10 billion. Each migration creates onchain records linked to the underlying loan files rather than creating new security structures. These records hold more than 500 data points for verification and audit purposes. Pineapple reported its dashboard now displays 2,079 mortgage records following a December 2025 launch. A specific token, PAPL0, tracks these records with a market cap of about $1.1 billion. This figure represents an increase of roughly 48 percent over the last nine months as per recent data. Pineapple maintains a separate $100 million treasury of Injective digital assets. Kraken acts as a primary validator for these holdings.