- Pineapple Financial completed its first $8.9 million purchase of 678,353 INJ tokens, marking the launch of its $100 million treasury.
- The company will stake all acquired INJ onchain, expecting an annual yield of 12.75%, creating a new recurring revenue source.
- Pineapple plans to integrate Injective’s decentralized infrastructure into mortgage operations, advancing its strategy to become an onchain finance leader.
Pineapple Financial Inc. (NYSE American: PAPL) has officially launched its $100 million Injective Digital Asset Treasury (DAT) strategy with an initial acquisition of 678,353 Injective ($INJ) tokens worth approximately $8.9 million. This marks the company’s first open market purchase as part of a broader plan to establish a leading onchain treasury and staking platform.
Pineapple Financial Executes First Phase of Its Injective DAT Strategy
The Toronto-based fintech firm began implementing its Injective DAT strategy, first disclosed on September 5, 2025. The initiative was backed by a $100 million private placement, designed to fund a series of open market $INJ purchases. This first acquisition represents the beginning of Pineapple’s long-term strategy to expand its Injective holdings.
All of Pineapple’s newly acquired tokens will be staked directly onchain, transforming the treasury into a yield-generating reserve. The company expects an annual staking reward of approximately 12.75%, nearly twice Ethereum’s rate and about 1.8 times higher than Solana’s. This move positions the treasury as a sustainable source of blockchain-based revenue.
According to pressrelease, Pineapple confirmed that additional token purchases will be made in the coming weeks as part of its progressive accumulation plan. Each phase of deployment will be communicated transparently as the company advances its goal of becoming the world’s largest holder and staker of $INJ.
CEO Shubha Dasgupta Outlines Pineapple’s Onchain Vision
Chief Executive Officer Shubha Dasgupta described the Injective DAT strategy as a defining moment for the company’s evolution into an onchain enterprise. “This initial Injective investment underscores our conviction in the strength of the $INJ token’s future and our ambition to create the world’s largest and most productive INJ treasury platform,” said Dasgupta.
He added that the company’s broader objective is to bridge traditional mortgage finance and decentralized infrastructure. “This transaction marks the first of many milestones, as we establish ourselves as a pioneering DAT company and work to achieve our vision to bring Pineapple’s mortgage finance business onchain using Injective’s financial infrastructure,” he said.
Dasgupta emphasized that staking and transparency will remain central to Pineapple’s digital asset operations, ensuring that the treasury functions as a reliable yield engine while supporting long-term business stability.
Injective Labs Praises Pineapple’s Strategic Alignment
Eric Chen, the co-founder of Injective Labs, received the initiative warmly and emphasized that it could be used to reinstate the use of blockchain in the traditional finance. “We’re excited to see Pineapple take this important first step in executing its Injective treasury strategy,” said Chen.
He further noted that Pineapple’s adoption of Injective’s financial infrastructure reinforces the protocol’s core purpose. “By aligning its core business with Injective’s infrastructure, Pineapple is helping accelerate the adoption of onchain finance while reinforcing Injective’s role as a leading blockchain purpose-built for financial applications,” Chen stated.
In addition to building its $INJ treasury, Pineapple intends to integrate Injective’s decentralized tools into its core mortgage operations, spanning data management, servicing, settlement, and real-world asset tokenization. As it continues to expand its DAT, the company remains focused on creating a transparent and productive onchain finance model.
