Pineapple Financial Migrates Over $10 Billion in Historical Loans to Injective, Completes On-Chain Migration of Over $1 Billion in Mortgage Records

Odaily Planet Daily News: Mortgage lending institution Pineapple Financial has migrated over $1 billion in residential mortgage records to Injective, a Layer 1 blockchain focused on financial applications. The company plans to eventually migrate more than 29,000 loans, with a total value exceeding $10 billion, onto the blockchain. Each loan corresponds to a single on-chain record and has not been repackaged into new mortgage-backed securities. These records include over 500 data points, such as loan tier information, to support verification, audit tracking, and risk analysis. The Pineapple Financial dashboard shows the current migration count at 2,079 records, up from 1,259 when the project launched in December 2025. The market value of PAPL0 assets is approximately $1.1 billion, with tokens representing mortgage records rather than ownership of the underlying loans. Pineapple Financial's collaboration with Injective also includes a $100 million Injective (INJ) digital asset treasury. Pineapple Financial stakes INJ from this treasury, with Kraken serving as the primary validator for the related holdings. (Cointelegraph)