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INJ Pineapple Financial migrates more than $1 billion in mortgage records to the Impressive blockchain
On Thursday, Pineapple Financial (NYSE American: PAPL) confirmed that its mortgage records migrated to the Impressive blockchain have exceeded the $1 billion mark. The Toronto-based financial technology company is working to hook up all of its loan books, a move that marks important progress.
Loan book migration online
Pineapple Financial has migrated more than $1 billion of residential mortgage records to the first layer of blockchain, Injective, a milestone in the tokenization of assets on the chain. Since the project was launched in December 2025, Pineapple has relocated 2079 mortgage records to the blockchain, a significant increase from the 1259 tokenized records at launch.
Each tokenized mortgage record contains more than 500 data points and will provide the basis for a licensed data market and planned on-chain mortgage-backed income products. The company's long-term goal is to relocate more than 29000 financed mortgages from its historical portfolio (totaling approximately $10 billion, or $13.7 billion) to blockchain.
This is the first time that a publicly traded mortgage company around the world has tokenized its own loan books on a public blockchain and integrated on-chain data into daily operations. Previously, loan information was scattered among multiple internal systems and paper documents. By migrating that mortgage data to Injective, the company consolidated all information into a single ledger that could be audited and untampered with.
INJ as a reserve asset
Mortgage relocation is part of a broader commitment to the Impressive ecosystem. Pineapple's cooperation with Injective is not limited to mortgage tokenization. The company has also established a $100 million INJ digital asset reserve to support its balance sheet by pledging Injective's native tokens ($INJ).
This investment in the Injective token makes Pineapple the first company in the world to publicly trade and hold $INJ. The Effective digital asset reserve strategy has attracted the participation of many leading institutions from the traditional finance and cryptocurrency fields, including FalconX, Monarq, Abraxas, Kraken, Blockchain.com, Canary Capital and the Effective Foundation.
In addition to building a $INJ reserve, Pineapple also plans to integrate Injective's decentralized financial infrastructure into its core mortgage financing business, covering areas such as data, services, settlement and tokenization of real-world assets.
