Pineapple Files First in Race to Merge Finance and Blockchain

Pineapple Financial Inc. (NYSE: PAPL), a fintech platform specializing in mortgage services and digital innovation, has announced a $100 million private placement to launch the first digital asset treasury strategy anchored in Injective (INJ), the native asset of the Injective blockchain. This move positions Pineapple as the first publicly traded company globally to allocate capital into INJ, marking a significant step in integrating blockchain-based financial systems with traditional fintech operations [1]. The company's strategy is expected to yield a passive return of approximately 12%, a rate among the highest across major blockchain networks today [1].

Injective, a blockchain platform designed for institutional-grade financial transactions, has seen significant growth, processing over $60 billion in transactions to date. The network’s adoption has surged more than 1,000% year to date, driven by its focus on speed, cost-efficiency, and institutional readiness. Pineapple’s investment in INJ reflects its belief in the potential of blockchain to enhance liquidity and transparency in traditional finance. By leveraging the Injective blockchain’s infrastructure, Pineapple aims to explore innovative financial strategies and align with the broader trend of tokenization, which is estimated to transform the multi-trillion-dollar financial industry [1].

The treasury strategy attracted participation from a broad range of institutional investors across both traditional finance and the crypto sector, including FalconX, Monarq, Abraxas, Kraken, Blockchain.com, Canary Capital, and the Injective Foundation. D. Boral Capital served as the exclusive placement agent for the transaction. This support underscores the growing confidence among experienced investors in both Pineapple’s strategy and the Injective blockchain’s potential to reshape financial infrastructure [1].

Pineapple’s CEO, Shubha Dasgupta, emphasized the importance of blockchain-based systems in modernizing financial operations, stating that INJ represents one of the most viable pathways for the finance industry to transition onto digital rails. The company’s chairman, Drew Green, added that the transaction establishes Pineapple as a key player at the intersection of traditional finance and blockchain, a space expected to become a defining trend in the financial sector [1]. The company’s COO, Kendall Marin, noted that the investment highlights Pineapple’s commitment to innovation, particularly in light of the structural challenges present in legacy financial systems.

The broader market reaction to Pineapple’s announcement has been cautiously optimistic. At the time of the press release, Injective’s token price was hovering near $12.8, slightly off intraday highs of $13.2. While the token had seen a 14% decline in the preceding three trading days, the recent inflow of institutional capital and the announcement appear to have stabilized investor sentiment to some degree. Analysts have noted that the move reflects a broader trend of increased institutional adoption of digital assets, particularly in the wake of evolving regulatory frameworks in the United States [2]. However, technical indicators such as the MACD histogram remain negative, indicating lingering bearish pressure despite improved short-term momentum.

Source:

[1] Pineapple Financial Inc. (https://gopineapple.com/investor-relations/-Pineapple-Financial-Inc-100M-Injective-Digital-Asset-Treasury-Strategy-en)

[2] Yahoo Finance (https://finance.yahoo.com/news/pineapple-financial-launches-first-corporate-013712269.html)

[3] Crypto Briefing (https://cryptobriefing.com/pineapple-financial-injective-100m-treasury/)

[4] Newsfile Corp. (https://www.newsfilecorp.com/release/264735/Pineapple-Financial-Announces-the-Launch-of-100M-Injective-Digital-Asset-Treasury-Strategy-Becoming-the-First-Publicly-Traded-INJ-Holder-Worldwide)