Pineapple Financial, a prominent fintech firm, has initiated the massive migration of its mortgage portfolio on blockchain valued at 10 billion, utilizing Injective’s infrastructure. The company announced that it seeks to radically modernize how loan data is stored and verified, betting on the transparency and immutability offered by this decentralized technology.
To date, the company has already tokenized data worth 716 million dollars in funded mortgages, marking the beginning of a monumental transition. According to revealed plans, more than 29,000 additional loans are expected to follow this process, anchoring each record to a unique and verifiable reference point on-chain. This strategic move seeks to eliminate traditional inefficiencies in the sector.
The choice of Injective was not accidental, as the firm highlighted that this network provides the high-security and high-throughput infrastructure needed to verify rich data at scale. By placing detailed loan-level metadata on-chain, Pineapple Financial establishes a consistent foundation for underwriting and servicing, while maintaining full ownership over its data structures and customer-facing products.
Can decentralized technology permanently eliminate bureaucracy in mortgage lending?
The initiative details that each loan record contains more than 500 verifiable data fields and immutable entries, which greatly facilitates coordination between departments. By having a continuous and tamper-evident trail of every update, the company can streamline regulatory reporting and eliminate much of the manual reconciliation that typically slows down the management of large credit portfolios.
Furthermore, this new data foundation is designed to support innovative additional products, including a Mortgage Data Marketplace and the Pineapple Prime service. The ultimate goal is to build a faster and more transparent ecosystem where automated workflows replace tedious manual checks, such as document tracking and version control, substantially improving overall operational efficiency.
Will the INJ price follow the trend of institutional adoption or fall further?
Despite this significant technological advancement, the market has reacted mixedly in terms of token valuation. Although Injective’s daily active users jumped to 77,600 during the month of December, showing a skyrocketing increase since the beginning of the year, the asset price has not reflected this growth in network activity or institutional interest.
On the other hand, market data reveals that the native token has declined 30.1% over the past month of trading, trading lower in tune with the broader market. However, Pineapple Financial’s bet, which holds a strategic treasury in INJ, suggests a long-term vision where the real utility of the blockchain could eventually drive a recovery and stabilization of the asset’s value.
