Crypto.com has formed a strategic partnership with Pineapple Financial (NYSE American: PAPL), a fintech platform, to enable Pineapple's Injective (INJ) digital asset treasury strategy. This collaboration marks Pineapple Financial as the first publicly traded company to hold INJ, with Crypto.com serving as the custody provider and facilitating native staking for the assets.
Under the agreement, Pineapple has completed an initial acquisition of approximately $8.9 million worth of INJ, with a plan to build a $100 million treasury denominated in INJ. Crypto.com will leverage its regulated custody infrastructure to securely store and stake these holdings, ensuring long-term lockups and yield generation. The partnership is designed to make Pineapple's treasury operations "scalable, compliant, and built for long-term institutional participation," and it aims to "bridge institutional finance with blockchain technology."
This initiative positions Pineapple as an "early mover in the multi-trillion-dollar market for asset tokenization," with future explorations into blockchain applications for tokenized finance and real-world assets, including lending, securitization, and transparent settlement. The partnership expands Crypto.com's institutional custody client base, which includes the TON Foundation and VeChain Foundation, and follows Crypto.com's recent application for a U.S. National Trust Bank Charter to strengthen federal oversight of its custody services.
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