Pineapple Financial Moves $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.

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

Each tokenized mortgage record will include more than 500 data points and will support the creation of a permissioned data marketplace, as well as underpin blockchain-supported mortgage yields for future product offerings.