Texas homebuilder unveils SEC-approved crypto rewards platform

Megatel Homes will launch MegPrime, a crypto rewards platform for renters and homeowners, following SEC approval. Users can earn tokens for payments, redeemable for purchases or homebuying benefits.

Texas-based Megatel Homes is preparing to launch MegPrime, a crypto payments and rewards platform, after securing a no-action letter from the U.S. Securities and Exchange Commission. The MegPrime token will enable renters and homeowners to earn rewards by making rent or mortgage payments through the platform. Users can receive up to 20% back in tokens, which are redeemable for everyday purchases or convertible to US dollars. Renters may qualify for up to 100% of their previous year's rent, capped at $25,000, to use toward a future home purchase. Homeowners could access mortgage rates up to 2% below the market average. This initiative aims to merge real estate transactions with digital currency utility, providing tangible benefits and addressing housing affordability. Megatel emphasizes that the token is for utility and rewards, not investment, and will operate on a compliant blockchain to ensure security and scalability.