Pineapple Bets Big on Blockchain's Future with First Public INJ Treasury

Pineapple Financial Inc. (NYSE American: PAPL), a fintech platform, has announced the launch of a $100 million Injective treasury, positioning it as the first publicly traded company to hold INJ, the native asset of the Injective blockchain. The company will allocate the proceeds from a private placement into INJ, which is expected to generate a passive yield of approximately 12%—one of the highest among major blockchain networks today. This move aligns Pineapple with the broader tokenization trend, which aims to modernize traditional financial systems by leveraging blockchain technology.

The investment is part of Pineapple's strategy to explore how blockchain-based assets can transform the financial industry. By focusing on INJ, the company aims to capitalize on Injective’s capabilities in facilitating fast, cost-effective, and institution-ready transactions. The Injective blockchain has already powered over $60 billion in transactions and has seen a year-to-date surge in usage by more than 1,000%. The company’s decision to allocate a significant portion of its capital to INJ signals its belief in the long-term potential of blockchain as the infrastructure for digital finance.

The transaction attracted participation from a range of institutional investors across both traditional finance and the crypto space, including FalconX, Monarq, Abraxas, Kraken, Blockchain.com, Canary Capital, and the Injective Foundation. This broad support underscores the growing confidence in Pineapple's digital asset strategy and Injective as a leading blockchain platform for financial innovation. D. Boral Capital served as the exclusive placement agent for the deal.

Eric Chen, Co-Founder of Injective, emphasized the significance of this development, calling it a “defining moment” for the Injective ecosystem. He highlighted the accelerating momentum behind Injective as it bridges Wall Street and on-chain finance, aiming to create a faster, more transparent, and globally accessible financial system. The launch of the first publicly traded Injective treasury is expected to catalyze broader adoption of blockchain-based financial systems and encourage further integration between traditional and digital finance.

Shubha Dasgupta, CEO of Pineapple Financial, stated that the investment reflects the company’s conviction in the future of finance being built on digital rails. He noted that INJ could serve as a foundation for transparent and accessible financial systems, addressing inefficiencies in legacy financial infrastructures such as lending, securitization, and banking. The company’s strategy to integrate INJ into its treasury operations is expected to open new avenues for capital allocation and financial innovation.

Pineapple Financial has positioned itself as a leader in fintech through its mortgage brokerage network and cloud-based tools for brokers. With this latest move into digital assets, the company is signaling a strategic pivot toward blockchain-based financial services. The company’s commitment to innovation is further demonstrated through its engagement with leading institutions across both traditional and digital finance. As the financial industry continues to evolve, Pineapple’s integration of blockchain-based assets may serve as a model for how traditional financial institutions can adapt to the digital age.

Source: [1] Pineapple Financial Announces The Launch Of $100M ... (https://www.barchart.com/story/news/34540758/pineapple-financial-announces-the-launch-of-100m-injective-digital-asset-treasury-strategy-becoming-the-first-publicly-traded-inj-holder-worldwide)