Canadian financial company to move $10 billion in mortgages on-chain, another confirmed case in the RWA track

【Blockchain Weekly】A Canadian fintech company, Pineapple Financial, recently made a big move — they launched a mortgage tokenization platform on the Injective chain, aiming to bring all of their historical assets onto the blockchain. This is no small feat, with over 29,000 mortgage contracts totaling an approximate value of $10 billion.

What’s the current progress? More than 1,200 mortgage files have been tokenized, representing an asset value of about $412 million. Each tokenized record contains over 500 data points, with a clear purpose: to make on-chain data more transparent and to improve the efficiency of the entire business process.

In simple terms, this is a concrete attempt to bring traditional financial assets onto the blockchain. Mortgages are inherently high standardization and have clear data structures, making them well-suited for tokenization experiments. If they can eventually bring all 29,000 loans onto the chain, it will set a significant benchmark for the RWA (Real-World Asset) track.