Injective tokenizes over $1B in real estate mortgages as Pineapple Financial scales blockchain migration

A Canadian mortgage lender just quietly turned Injective into the largest blockchain for tokenized real estate. Pineapple Financial, listed on the NYSE American under the ticker PAPL, has now migrated more than $1 billion worth of residential mortgage records onto the Injective blockchain, giving the layer-1 network a commanding position in one of crypto’s most closely watched categories. The total number of on-chain mortgage records has reached 2,079, up from 1,259 when the project first launched in December 2025. That’s a 65% increase in record count over roughly nine months, and the dollar value of the PAPL0 asset sitting on-chain has climbed to approximately $1.1 billion. What’s actually on-chain These aren’t tokenized securities or fractional ownership stakes in individual properties. Each mortgage record is a detailed digital representation of the original loan file, packed with more than 500 data points designed for verification and risk analysis. The existing legal and servicing frameworks for each mortgage remain completely intact. No new securities are being created. The bigger picture for Injective and RWAs Pineapple’s contribution represents the single largest entry in ...