Pineapple Financial has launched a mortgage tokenization platform. Pineapple is now converting real-world mortgage records – historically trapped in PDFs, emails, and back-office folders – into secure and programmable digital assets on the Injective blockchain.
This is an example of a publicly traded mortgage company tokenizing its own loan book on a public blockchain and integrating on-chain data into day-to-day operations. As part of the platform’s initial deployment, Pineapple has already brought more than 1,200 previously originated mortgage files on-chain, representing approximately $570 million CAD in funded mortgage volume. Over the coming months, the Company expects to migrate its entire historical portfolio of more than 29,000 funded mortgages – totalling approximately $13.7 billion CAD – with new originations added on an ongoing basis.
Each tokenized mortgage record contains more than 500 unique data points, creating a unified, auditable, and tamper-resistant source of truth designed to streamline operational workflows, improve risk modelling, and unlock new financial products.
“Pineapple has been a pioneer in modernizing the Canadian mortgage industry, reshaping a traditional and fragmented space into a technology-driven and data-powered ecosystem,” said Shubha Dasgupta, CEO of Pineapple Financial. “By bringing our loan book on-chain, we are not only improving transparency and increasing efficiency, but we are laying the groundwork for entirely new financial products, from data marketplaces to mortgage-backed yield platforms. This is the future of mortgage finance, and Pineapple is proud to be leading that transformation.”
“Tokenizing Pineapple’s mortgage portfolio on Injective represents one of the most significant real-world asset deployments ever conducted by a public company,” said Cooper Emmons, institutional markets advisor at Injective. “Pineapple is setting a new industry standard by moving real mortgage data on-chain at scale, and Injective is built to support this level of financial innovation. We are excited to partner with Pineapple as they bring new transparency, programmability, and accessibility to the mortgage market.”
Pineapple’s tokenization platform is designed to address operational challenges across mortgage finance, including fragmented data systems, manual audits, and outdated document tracking processes. By bringing structured loan-level data on-chain, Pineapple can support automated verification, real-time audit trails, and seamless data sharing for compliant institutional use.
Built on this foundation, the company is developing two new commercial products.
Mortgage Data Marketplace is a permissioned platform designed to provide compliant access to anonymized loan-level data for institutions seeking improved benchmarking, risk analytics, and market intelligence. Pineapple Prime, once live, is intended to provide on-chain access to mortgage-backed yield opportunities
