Pineapple Financial, Canadian fintech listed on the NYSE American (PAPL), has announced one of the most ambitious initiatives for the tokenization of real assets in the mortgage sector.
The company, which finances over 3 billion Canadian dollars annually, has initiated the onchain migration of its mortgage portfolio worth 13.7 billion Canadian dollars, marking a decisive step in the integration between traditional finance and blockchain technology.
This operation represents one of the first cases globally where a publicly traded mortgage company tokenizes its loan portfolio on a public blockchain, integrating the digitized data into its daily operational activities.
From Paper to Blockchain: The Digitalization of Mortgages
Historically, mortgage data was confined to paper documents, PDFs, emails, and back-office archives. Pineapple Financial has chosen to overcome these limitations by converting the data into secure and programmable digital assets on the Injective blockchain.
To date, over 570 million Canadian dollars in real mortgages have already been tokenized, corresponding to 1,200 originated loans.
The goal is ambitious: in the coming months, Pineapple plans to migrate the entire historical portfolio of over 29,000 financed mortgages, with a total value of approximately 13.7 billion Canadian dollars. New disbursements will progressively be added to these.
Structured Data and Unprecedented Transparency
Each tokenized mortgage contains more than 500 unique data points, creating a unified, verifiable, and tamper-resistant source of truth. This structure allows for the simplification of operational workflows, enhancement of risk modeling, and paves the way for new financial products.
According to Shubha Dasgupta, CEO of Pineapple Financial, “bringing our loan portfolio onto the blockchain not only means increasing transparency and efficiency, but also laying the groundwork for entirely new financial products, from data marketplaces to mortgage-backed yield platforms.
This is the future direction of real estate finance, and Pineapple is proud to lead this transformation.”
Innovation and Strategic Partnerships
The choice of Injective as the blockchain infrastructure underscores Pineapple’s commitment to adopting cutting-edge technological solutions. Cooper Emmons, Institutional Markets Advisor at Injective, stated: “The tokenization of Pineapple’s mortgage portfolio represents one of the most significant implementations of real-world assets ever undertaken by a public company. Pineapple is setting a new industry standard by bringing real mortgage data onto the blockchain at scale.”
New Products for the Data and Investment Market
The Pineapple tokenization platform is designed to address historical issues in the mortgage sector: fragmented data systems, manual audits, and outdated document tracking processes.
Thanks to the structured digitization of data at the individual loan level, Pineapple can offer automated verification, real-time audit trail, and seamless data sharing for institutional uses compliant with regulations.
On this basis, Pineapple is developing two new commercial products.
Mortgage Data Marketplace
This is an authorized platform that provides compliant access to anonymized data at the individual loan level. Institutions will thus be able to enhance benchmarking, risk analysis, and market intelligence by leveraging standardized and verifiable data.
Pineapple Prime
In its launch phase, Pineapple Prime will offer onchain access to yield opportunities backed by mortgages, expanding the pool of investors interested in one of Canada’s most stable asset classes.
Real-Time Monitoring and Transparency for the Market
Pineapple has launched a dedicated tokenization page, featuring a real-time tracker that automatically updates the number of mortgage assets digitized on the blockchain.
This tool provides unprecedented transparency to investors and industry operators, allowing them to track the onchain migration evolution of the wallet.
A Network of Brokers and Cutting-Edge Technologies
Pineapple Financial is recognized as one of the fastest-growing mortgage platforms in Canada. Its network includes hundreds of brokers and stands out for the adoption of cloud tools and systems based on artificial intelligence, with the aim of facilitating access to homeownership for Canadians.
The company is also socially active, supporting charitable initiatives across the country to improve the lives of local communities.
Risks and Future Prospects
Like any innovation, this initiative also involves risks and uncertainties. Pineapple emphasizes that forward-looking statements are subject to market variables, regulatory changes, and customer acceptance.
However, the strategy of bringing real estate finance onto the blockchain represents a decisive step towards greater efficiency, transparency, and accessibility for the entire mortgage ecosystem.
A New Paradigm for the Mortgage Sector
The onchain migration of Pineapple Financial’s mortgage portfolio marks a groundbreaking shift for Canadian and international real estate finance. Thanks to the tokenization of real assets, the mortgage sector enters a new era characterized by structured data, auditability, automation, and innovative investment opportunities.
Pineapple thus confirms itself at the forefront of the digital transformation of finance, laying the groundwork for the future of the real estate market.