Pineapple Financial Deploys Blockchain to Revolutionize Mortgage Portfolio Management

Canadian fintech Pineapple Financial is fundamentally transforming how mortgage records are stored and managed by converting its entire loan portfolio into digital assets on the Injective blockchain. The Toronto-based company, listed on NYSE American, has already begun transitioning thousands of mortgage documents from traditional file systems into a tamper-resistant, auditable digital format—a significant step toward modernizing an industry still heavily dependent on paper-based processes.

Scaling Mortgage Digitization: From Pilot to Full Deployment

The initiative has gained real momentum with Pineapple having already converted over 1,200 historical mortgage files onchain, representing approximately $412 million (C$570 million) in funded mortgage volume. This achievement sets the stage for the company’s ambitious long-term objective: migrating its complete historical portfolio of more than 29,000 funded mortgages, totaling roughly $10 billion (C$13.7 billion), onto the blockchain infrastructure. Beyond historical assets, the company plans to continuously add newly originated mortgages to the system, creating a living, evolving record of its lending activity.

The scale of this mortgage data undertaking is substantial. Each tokenized mortgage record encodes more than 500 distinct data points—encompassing everything from borrower information and property details to payment histories and compliance documentation. By consolidating this fragmented information into a single, structured digital format, Pineapple aims to eliminate the inefficiencies that plague traditional mortgage administration.

Building Tomorrow’s Mortgage Infrastructure: Product Innovation

Beyond digitization, Pineapple is constructing an ecosystem of products layered on top of its tokenized mortgage dataset. The company is launching a Mortgage Data Marketplace operating on permissioned access principles, allowing institutional partners to access anonymized, loan-level mortgage information for benchmarking, risk analysis, and market analytics—all while maintaining strict privacy compliance. This controlled environment enables data-driven decision-making without exposing sensitive customer information.

Complementing this is Pineapple Prime, a planned offering designed to provide institutional investors direct onchain access to mortgage-backed yield opportunities. This represents a fundamental shift in how mortgage assets can be monetized and distributed across financial networks, potentially opening new capital pathways for mortgage lending.

The company has also deployed a real-time metrics dashboard that tracks the ongoing migration, updating in real-time as new mortgage assets are minted and recorded on the Injective blockchain. This transparency tool demonstrates the company’s commitment to operational visibility throughout the tokenization process.

Enterprise-Grade Security Protecting Mortgage Confidentiality

Security and data protection form the foundation of this mortgage digitization strategy. Pineapple CEO Shubha Dasgupta emphasized in the company announcement that client data protection remains paramount throughout the blockchain lifecycle. The platform implements enterprise-grade encryption protocols, sophisticated identity and access management controls, continuous system monitoring, and secure data governance frameworks designed to ensure mortgage information stays protected at every stage of processing and storage.

These multilayered security measures address the primary concern institutions face when considering blockchain adoption for sensitive financial data: the assurance that moving to distributed systems does not compromise—and ideally enhances—data protection standards.

Market Context: Positioning Mortgage Innovation in Digital Finance

Pineapple Financial’s core business provides over $2.2 billion (C$3 billion) in annual mortgage funding through its brokerage network, leveraging cloud infrastructure and AI-driven systems to serve mortgage brokers across Canada. By introducing blockchain-based mortgage tokenization at this scale, the company positions itself at the intersection of traditional financial services and emerging digital asset infrastructure, demonstrating that established institutions can successfully integrate blockchain technology without abandoning rigorous regulatory compliance and security practices.

This mortgage digitization initiative reflects broader industry momentum toward real-world asset tokenization, where financial institutions increasingly recognize blockchain’s potential to streamline operations, improve auditability, and unlock new business models around traditionally illiquid assets like mortgages.