The Art of Digital Mortgage: Pineapple Financial Architects $10B Portfolio on Blockchain

Pineapple Financial, a Toronto-based mortgage fintech company, has unveiled an ambitious initiative to bring its entire loan portfolio into the blockchain ecosystem. The company has launched a comprehensive mortgage tokenization infrastructure on the Injective blockchain and has already begun the process of converting historical loan records into immutable digital assets. This move represents a significant shift in how mortgage data is managed, stored, and leveraged in the digital age.

The company’s transformation effort is both expansive and deliberate. Pineapple Financial has already successfully migrated more than 1,200 previously originated mortgage files onto the blockchain, representing approximately $412 million (C$570 million) in funded mortgage volume. Over the coming months, the fintech company plans to continue this migration, ultimately bringing its full historical portfolio of more than 29,000 funded mortgages—totaling about $10 billion (C$13.7 billion)—onto the blockchain infrastructure. Beyond migrating existing assets, the company intends to add new mortgage originations to the system on an ongoing basis.

Why This Matters: Reimagining Mortgage Infrastructure Through Blockchain

The core technology behind this initiative is mortgage tokenization, which converts real-world mortgage assets and their associated documentation into digital tokens recorded immutably on a blockchain. Each tokenized mortgage record contains more than 500 individual data points, creating a comprehensive digital mortgage profile that far exceeds what traditional paper-based or siloed database systems can offer.

This approach transforms how Pineapple Financial manages loan information that typically sits scattered across documents and multiple internal systems. By consolidating this data into an auditable, tamper-resistant on-chain dataset, the company gains the ability to streamline workflows, support automated verification, and maintain real-time audit trails. The technical infrastructure also enables improved risk modeling and compliant data sharing with partner institutions—capabilities that would be significantly more cumbersome to execute using conventional systems.

Building New Products on Tokenized Data

Pineapple Financial is not simply moving data to blockchain for efficiency alone. The company has announced two new product offerings built directly on top of its tokenized mortgage dataset. The first is a permissioned Mortgage Data Marketplace, designed to provide compliant access to anonymized loan-level information for benchmarking and analytics purposes. This marketplace enables institutional participants to access insights and perform comparative analysis without compromising individual borrower privacy.

The second product, Pineapple Prime, represents an emerging opportunity in the decentralized finance space. Pineapple Prime will offer on-chain access to mortgage-backed yield opportunities, allowing investors to participate in returns generated from the mortgage portfolio while maintaining full transparency and regulatory compliance. This product exemplifies how tokenization can unlock new revenue streams and investment opportunities previously unavailable in traditional mortgage finance.

Security and Governance at Scale

CEO Shubha Dasgupta emphasized that the platform has implemented enterprise-grade security protocols throughout the entire lifecycle of mortgage data. The approach combines advanced encryption standards, modern identity and access controls, continuous monitoring, and secure data governance frameworks. These measures ensure that sensitive mortgage information remains protected at every stage, from origination through the on-chain management process.

The company operates a significant lending infrastructure, providing more than $2.2 billion (C$3 billion) annually in mortgage funding through its Canadian mortgage brokerage network. This scale and operational experience inform the security architecture of the tokenization platform, ensuring that data protection meets institutional-grade standards.

The Broader Trajectory

Pineapple Financial’s initiative reflects a broader trend in financial services: the migration of traditional real-world assets onto blockchain infrastructure. While mortgage tokenization is still in its early stages of adoption, projects like this demonstrate the potential for blockchain to enhance transparency, reduce operational friction, and create new financial products.

The company has also launched a tokenization landing page featuring a real-time metrics tracker that updates as new mortgage assets are minted on-chain. This transparency mechanism allows stakeholders to monitor migration progress and asset growth in real time—a capability that underscores the company’s confidence in the robustness of its blockchain-based infrastructure.

With over 1,200 mortgage records already migrated and a roadmap to bring its entire $10 billion portfolio onto blockchain, Pineapple Financial is demonstrating that large-scale tokenization of real-world assets is not merely theoretical—it is operationally achievable, compliant, and capable of driving meaningful innovation in traditional finance.