Pineapple Financial Tokenizes $1 Billion in Mortgage Records on Injective
- Pineapple Financial has migrated over $1 billion in residential mortgage records onto the Injective blockchain.
- The initiative aims to move more than 29,000 mortgages valued at over $10 billion onto the network.
- Currently, there are about 2,079 mortgage records onchain, up from an initial count of 1,259 since December.
- The asset tracking token, PAPL0, has a market cap of approximately $1.1 billion, marking a growth of 48.2% over nine months.
- Pineapple also manages a $100 million digital asset treasury with INJ tokens staked through Kraken as a validator.
This migration reflects a growing trend in real estate tokenization aimed at enhancing liquidity and accessibility for traditionally illiquid assets. The overall market for tokenized real-world assets is currently valued at about $226.5 million.
Pineapple’s successful transfer of mortgage records highlights the increasing integration of blockchain technology into financial services, with PAPL0’s market cap reaching around $1.1 billion as part of this effort.
