Pineapple Financial Tokenizes $1 Billion in Mortgage Records on Injective

According to BlockchainReporter, Pineapple Financial has moved more than $1 billion in residential mortgage records onto the Injective blockchain. Reported by the network on September 4, 2026, this milestone makes Injective one of the largest layer-1 chains by total value of tokenized real-world assets. Pineapple is migrating funded residential mortgage records, where each loan is represented by an onchain record tied to its underlying loan file containing over 500 data points. The original mortgage stays within its legal and servicing framework while the onchain record acts as an auditable digital counterpart. Pineapple's stated goal is to migrate its entire historical portfolio of more than 29,000 funded mortgages worth over $10 billion onto the network over time. Dashboard data shows 2,079 mortgage records onchain, while Token Terminal lists the PAPL0 asset at roughly $1.1 billion in market cap. The deployment uses Injective Mint, a private alpha tokenization interface. Additionally, Injective Institutional Services registered with the U.S. Securities and Exchange Commission as a transfer agent.