Pineapple Financial Begins On-Chain Mortgage Tokenization, Converting Loans To Digital Assets For Transparency And Yield Opportunities

Commences on-chain migration of its mortgage portfolio, unlocking elevated transparency, efficiency, and yield opportunities across the mortgage ecosystem

More than half a billion dollars in mortgages tokenized to date as Pineapple converts legacy loan data into secure, auditable digital assets

Launch includes Mortgage Data Marketplace and Pineapple Prime, bringing institutional-grade analytics and mortgage-backed yields on-chain

Toronto, Ontario--(Newsfile Corp. - December 10, 2025) - Pineapple Financial Inc. (NYSE:PAPL) ("Pineapple" or "the Company"), a leading fintech platform, today announced the launch of its mortgage tokenization platform, a major advancement in the Company's on-chain financial infrastructure strategy. Pineapple is now converting real-world mortgage records, historically trapped in PDFs, emails, and back-office folders, into secure and programmable digital assets on the Injective blockchain.

This marks one of the first instances globally of a publicly traded mortgage company tokenizing its own loan book on a public blockchain and integrating on-chain data into day-to-day operations. As part of the platform's initial deployment, Pineapple has already brought 1,259 previously originated mortgage files on-chain, representing approximately $716 million CAD in funded mortgage volume. Over the coming months, the Company expects to migrate its entire historical portfolio of more than 29,000 funded mortgages, totaling approximately $13.7 billion CAD, with new originations added on an ongoing basis.

Each tokenized mortgage record contains more than 500 unique data points, creating a unified, auditable, and tamper-resistant source of truth designed to streamline operational workflows, improve risk modeling, and unlock new financial products.