TLDR
- Pineapple has made its first purchase of 678,353 INJ tokens worth $8.9 million.
- The company has officially launched its $100 million Injective Digital Asset Treasury strategy.
- Pineapple has immediately staked the entire INJ position onchain to generate yield.
- The firm aims to become the largest holder and staker of INJ tokens in the ecosystem.
- Pineapple plans to integrate Injective’s blockchain into its mortgage finance operations.
Toronto-based fintech firm Pineapple has completed its first open-market buy of 678,353 INJ tokens worth $8.9 million. This transaction officially activates Pineapple’s $100 million Injective Digital Asset Treasury strategy. The entire token purchase has been staked onchain immediately to generate yield and boost blockchain presence.
Pineapple Commits to Injective Ecosystem
Pineapple confirmed the staking of its full INJ position without delay after completing the acquisition. The company stated that this transaction marks only the beginning of a larger corporate campaign. The goal is to become the single largest holder and staker of INJ globally.
In a press release dated October 7, Pineapple declared its long-term strategy for Injective integration. The company had recently raised funds through a private placement to support this initiative. CEO Shubha Dasgupta emphasized confidence in the token’s future.
“This initial Injective investment underscores our conviction in the strength of the $INJ token’s future,” said Dasgupta. Pineapple’s strategic focus centers on staking, growth, and infrastructure expansion. The treasury aims to enhance its productivity through onchain financial innovation.
INJ to Power Mortgage Finance Onchain
Pineapple intends to integrate Injective’s blockchain into core mortgage business functions. This includes loan servicing, data handling, and settlement operations. The company also plans to explore tokenization of real-world mortgage assets.
Such blockchain-based mortgage finance models could simplify legacy financial processes. Pineapple sees Injective’s infrastructure as a scalable solution for digitizing traditional finance tasks. The project includes plans to bring loan servicing and asset transfers fully onchain.
Pineapple believes this transition will increase efficiency while providing greater transparency and automation. The company highlighted Injective’s architecture as critical to the transformation. According to the firm, this pivot aligns with long-term Web3 adoption goals in the lending sector.
Institutional Backing Boosts Injective Momentum
Just before Pineapple’s announcement, Rex Shares and Osprey Funds filed for a staked INJ ETF with the SEC. This move placed INJ among other digital infrastructure assets in the ETF Opportunities Trust. It highlighted institutional interest in Injective’s role in modern finance.
Injective also launched pre-IPO perpetual markets for synthetic shares of major private firms like OpenAI. These markets allow decentralized, leveraged trading of synthetic equity instruments. Pineapple’s INJ buy aligns with this broader ecosystem expansion.
In recent weeks, Injective has surpassed $1 billion in real-world asset futures volume. This signals increasing adoption of the platform’s DeFi infrastructure. Pineapple’s involvement comes at a time of rising global attention on INJ’s utility.
