A Texas-based homebuilder is preparing to launch a crypto-based rewards program after receiving regulatory clearance from the U.S. Securities and Exchange Commission. The company said the approval allows it to move forward without enforcement action from the regulator.
Regulatory clearance
The homebuilder, Megatel Homes, received a “no-action” letter from the SEC. This type of letter indicates the agency does not intend to take action against the company for the planned program. The clearance gives Megatel confidence to introduce its digital token under existing rules.
Crypto rewards program
Megatel plans to issue a digital token called MegPrime. The token will be used for payments and as part of a rewards system. Customers will be able to earn tokens as rebates and use them through a digital wallet and linked payment card.
How the token will be used
The company said the token is designed for everyday spending rather than investment. Users can spend it with merchants, receive discounts, and earn additional rewards. Megatel emphasized that the token does not provide ownership, profit-sharing, or voting rights.
Connection to past initiatives
The crypto program builds on a previous Megatel initiative that allowed renters to apply past rent payments toward a home purchase. The new system extends that concept by using digital currency to track and distribute rewards.
Consumer and industry context
The move reflects growing interest among traditional businesses in using blockchain for loyalty and payment programs. Clearer guidance from regulators has encouraged companies to explore digital assets beyond speculation-focused use cases.
With regulatory approval in place, Megatel is moving ahead with its crypto rewards and payment program. The launch highlights how non-crypto companies are experimenting with digital tokens for practical consumer uses.
