Pineapple Financial is moving its $10 billion mortgage portfolio to blockchain.

Pineapple Financial Transitions to Mortgage Tokenization on Blockchain

Pineapple Financial has announced the launch of a mortgage tokenization platform on the Injective blockchain. The company stated that it has begun the process of transferring loan records to the blockchain.

Its long-term goal is to migrate a portfolio that includes over 29,000 financed mortgage records, valued at approximately $10 billion (C$13.7 billion), to the blockchain.

Each tokenized mortgage record will contain over 500 data points and will not only create a permissioned data marketplace but will also support blockchain-backed mortgage returns for future product offerings.