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Texas homebuilder Megatel Homes says it will launch a crypto payments and rewards token called “MegPrime” after receiving a rare “no-action” letter from the U.S. Securities and Exchange Commission. The token will be used for spending and customer rewards, not as an investment. Megatel says users will pay with a wallet and card, then earn rebates, gift cards, and housing-related perks tied to future home purchases.
Reuters first report move, noting that the SEC letter means staff does not plan to recommend enforcement if Megatel follows the specific program it described. A follow-up recap by Investing.com add details on how MegPrime will function as a universal payments token with consumer rewards, rather than a security.
Proactive Investors also note context, calling the letter a “green light” for a program that links everyday spending with real-estate benefits. In practice, this means shoppers could earn token rewards at normal merchants and later use perks toward deposits or closing costs—an example of how crypto rails can support property-related incentives without changing title or mortgage law.
Megatel says the token builds on a 2019 company program that credited renters with a year of rent toward a down payment. By placing rewards on blockchain, the firm wants real-time settlement, fewer intermediaries, and clearer tracking of benefits. For homebuyers, the pitch is simple: spend as usual, earn tokenized rewards, and apply perks to housing, while the bank and title work remain standard.
For real-estate tokenization, the link is practical, not symbolic. A compliant token that moves escrow-like rewards and rebates can sit beside registry-linked asset tokens. If wallets, cards, and rewards settle instantly, developers and lenders could tie promotions to verified milestones in a sale—reservation, appraisal, or closing—without waiting on slow reconciliations between systems.
“Since we have a multi-billion-dollar operation building homes and we are involved in financing the homes, we believe we can perfect this model and take it to the next level, merging real-estate activity with the benefit of digital currencies,” said Zach Ipour, Chief Executive Officer of Megatel Homes, describing why the company is entering crypto rewards.
The broader backdrop is a gradual shift toward clearer token programs in the U.S. While no-action letters are narrow and case-specific, they show how consumer tokens can operate when designed for payments and rewards, not profit-sharing. If MegPrime scales, expect pilots that link rewards to mortgage servicing and builder upgrades—moves that keep legal ownership off-chain, but bring customer value flows onto faster, programmable rails.
