Pineapple Financial Buys $8.9 Million in Injective Tokens
Pineapple Financial (NYSE American: PAPL) made its first open-market purchase of 678,353 Injective (INJ) tokens. The tokens are valued at about $8.9 million. This purchase is the first step in Pineapple’s planned $100 million Digital Asset Treasury (DAT) strategy.
According to the company’s official statement, all tokens will be held and staked directly on the Injective blockchain. This is part of a structured treasury diversification plan.
Long-Term Treasury Strategy with Yield Generation
Pineapple plans to stake the INJ tokens on-chain to earn network rewards. Current estimates suggest an annual yield of about 12.75%. The company aims to integrate blockchain assets into its financial operations while staying compliant with corporate regulations.
Shubha Dasgupta, CEO of Pineapple Financial, said, “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.”
The strategy aligns with a wider industry trend. Traditional and fintech firms are allocating parts of their balance sheets to digital assets. These assets offer yield potential through decentralized finance (DeFi) rather than being held purely for speculation.
Injective and Market Context
Injective (INJ) is a layer-one blockchain focused on DeFi applications. These include derivatives trading and liquidity provision.
For Pineapple, this initiative is an early experiment in using on-chain treasuries alongside traditional finance. If successful, it could guide how public companies manage digital asset exposure. The focus would be on regulated, yield-generating assets instead of speculative trading.
