- Pineapple begins its $100M INJ treasury with a first purchase worth $8.9M and plans more acquisitions.
- The company will stake all INJ tokens to earn yield and boost its on-chain activity in mortgage finance.
- Pineapple aims to bring mortgage services on-chain using Injective to improve efficiency and transparency.
Toronto-based fintech company Pineapple has purchased 678,353 Injective (INJ) tokens in its first open-market move. The acquisition, valued at $8.9 million, marks the beginning of its $100 million Digital Asset Treasury (DAT) initiative. The purchase follows a private funding round completed last month. This first tranche signals the start of a larger strategy to buy more INJ in phases.
Pineapple has confirmed that all acquired tokens will be staked on-chain. The company aims to build the largest and most productive INJ treasury. In so doing, it also aims to establish itself as one of the leading players in on-chain finance in the mortgage industry. The move is a significant shift from the old method of finance to blockchain infrastructure.
Staking Strategy to Support Yield and Presence
All INJ tokens acquired in this first purchase will be staked immediately. Pineapple intends to use staking to generate yield and increase its on-chain activity. This approach supports the broader goal of integrating blockchain into its daily business operations. It also reflects the company’s long-term belief in INJ as a strategic asset.
The firm plans a series of open-market purchases moving forward. These acquisitions will form the foundation of its $100 million treasury. This strategy highlights a trend of increased institutional participation in decentralized financial products.
Blockchain to Reshape Mortgage Business
Pineapple plans to incorporate Injective’s decentralized infrastructure across its core mortgage business. The company wants to take some of its major processes (settlement, loan servicing, and data management) on-chain. Such a change would make the mortgage industry more transparent and efficient.
Also, Pineapple will consider tokenization of real-life assets. With the help of blockchain, the company believes that it has an opportunity to reshape the process of managing and trading mortgages and property-linked assets. The integration would reduce the cost and enhance access among a greater number of participants.
INJ Ecosystem Gains Institutional Support
Pineapple’s announcement follows recent developments in the broader Injective ecosystem. Asset managers Rex Shares and Osprey Funds have filed with the SEC to launch a staked INJ ETF and other 20 crypto ETFs. The ETF would be part of the ETF Opportunities Trust, indicating growing institutional interest in Injective.
Injective has also introduced new financial products, including pre-IPO perpetual markets. These enable the on-chain trading of synthetic shares in major private firms, such as OpenAI . In recent weeks, Injective reported over $1 billion in trading volume for these products. This highlights strong market demand for decentralized access to real-world asset exposure.
