Tokenization just got a whole lot more interesting for anyone watching the space, because a chunk of actual home loans is now living on Injective in a way that feels genuinely practical. Pineapple Financial, the Canadian mortgage outfit listed on the NYSE American, turned on their new platform a few days ago and started pushing real loan records straight to the chain. They have already tokenized more than 1,200 loans adding up to over 700 million Canadian dollars, and the long-term target covers their full book of roughly 29,000 loans worth about 13.7 billion CAD. Every single record packs in hundreds of fields: payment schedules, property values, borrower details, the works. Instead of sitting in dusty folders or scattered databases, it is all there on a public blockchain, verifiable by anyone who needs to check.Pineapple laid the groundwork for this months earlier when they put together a 100 million dollar treasury made up entirely of $INJ. They bought the tokens openly, staked them through validators, and locked in double-digit yields with help from Kraken Ventures and FalconX on the custody side. That move alone made heads turn, because public companies do not usually commit that kind of capital to a single chain unless they see real alignment. Now it is clear why: they wanted their treasury and their core operations running in the same place. They even built a public dashboard where you can watch new loans get minted in real time, and the counter keeps ticking up.The platform does two main things right now. First, it offers a permissioned marketplace for anonymized data, so approved institutions can pull insights on rates, defaults, regional trends, whatever they need for underwriting or research. Second, it sets up Pineapple Prime, which will eventually open mortgage-backed yield products to compliant investors. Nothing speculative or rushed, just steady upgrades to how lending data gets handled.This lands perfectly on
@injective
because the network has spent years putting together the exact tools needed for this kind of work. Perpetual markets for stocks were the entry point, giving traders true 24/7 access to leveraged positions on major companies with liquidity that actually holds up. Fees stayed tiny, spreads tight, and billions flowed through without drama. Gold and commodity perpetuals came next and worked the same way, simple, fast, reliable. Then treasuries showed up through Ondo and BlackRock-linked indexes, bringing real yield that compounds inside the ecosystem without jumping through hoops.Pre-IPO markets added another layer, letting people trade exposure to private names that usually stay behind closed doors. Each new category built volume on top of the last, and the RWA module made launching them straightforward: issuers dial in permissions, whitelists, compliance rules, whatever the regulators want, while keeping everything else open and fast.Mortgages are a different beast because of the data volume and sensitivity, but Injective handles it without blinking. High throughput means minting thousands of rich records does not clog anything, quick finality keeps everything settled, and the security setup satisfies institutional checklists. Pineapple clearly did their homework, because other chains could store data, but few combine that with native trading venues and composability that lets new products emerge naturally.Across the industry, tokenized assets have already blown past tens of billions this year, and private credit plus real estate pieces are starting to take a bigger share. Rules are getting friendlier in the big markets, boards are warming up to the efficiency gains, and examples like this give them something concrete to point to. A listed lender committing treasury and migrating operations to the same chain is the kind of signal that gets attention in earnings calls and risk meetings.Challenges still exist, obviously. Privacy has to stay locked down, reporting must match local laws, and not every lender will move at the same speed. Pineapple tackled that by keeping raw data behind permissions while still using the public ledger for immutability and audits. It is a pragmatic mix that other firms can copy without reinventing anything.What stands out about Injective is how methodically it keeps adding useful pieces. Stocks brought constant trading, commodities gave hedging flexibility, treasuries delivered steady income, pre-IPO opened growth bets, and mortgages now pull in the massive credit layer that supports real estate markets everywhere. Trading volume in RWA perpetuals keeps climbing, liquidity deepens, and the flywheel spins faster.Looking forward, the setup feels ready for a lot more. When regulatory frameworks settle further and more lenders see a working model at this scale, adoption should accelerate. Networks that can actually manage institutional flows without constant headaches will end up holding most of the value, and Injective keeps proving it belongs in that group.The bigger picture is straightforward: moving slow, opaque processes onto transparent, programmable infrastructure saves time, cuts costs, and unlocks products that simply were not possible before. Pineapple’s deployment is one of the clearest examples yet that this is not future talk anymore; it is live, growing, and pulling in real money.#injective @Injective $INJ
