2,079 Mortgage Records Registered on Injective, Valued at $1.1 Billion

Pineapple Financial, a Canadian mortgage company, has registered 2,079 mortgage records exceeding $1 billion on the Injective blockchain. This marks a case of converting existing loan files into digital records, rather than transferring loan ownership or issuing new securities. Injective announced on its official blog on September 4 that the market value of these records is approximately $1.1 billion (around 1.4773 trillion KRW). Each record includes over 500 data points linked to individual loan files. Pineapple Financial plans to move more than 29,000 existing mortgages on-chain in the long term, with the total portfolio exceeding $10 billion (approximately 13.43 trillion KRW). The currently converted 2,079 records represent a portion of the overall target, and the complete transfer schedule has not been disclosed. This project is related to the partnership between Pineapple Financial and Injective, with Pineapple Financial aiming to raise approximately $100 million (around 134.3 billion KRW) through an 8-K filing with the U.S. Securities and Exchange Commission in 2025 to advance its INJ-centered digital asset financial strategy.

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