Megatel Dives Into Crypto With SEC Green Light

Megatel Homes is taking an unusual step for a private homebuilder: launching its own crypto token.

The Dallas-based firm said Thursday it will begin issuing a digital payments and rewards token called MegPrime after receiving a rare “no-action” letter from the Securities and Exchange Commission, effectively clearing the way for the rollout. The SEC letter signals that the agency does not intend to recommend enforcement action, according to Reuters, which first reported the move.

MegPrime marks Megatel’s first foray into digital currency. CEO Zach Ipour framed it as an extension of the builder’s broader housing ecosystem rather than a speculative move. The token will be marketed strictly as a payment and rewards tool, not as an investment, the company said.

Consumers will be able to use MegPrime through a digital wallet and payment card at regular merchants. In return, users can earn rebates paid in additional tokens, discounted gift cards and points redeemable for housing-related benefits. Token holders will not receive any ownership rights, voting power or profit participation tied to Megatel, according to the publication.

The initiative builds on a program Megatel launched in 2019 that credited renters with an amount equal to their prior year’s rent to use toward a home purchase. Ipour told Reuters the company believes its scale — a multibillion-dollar homebuilding and financing operation — gives it a chance to “perfect this model” by blending real estate transactions with digital currency incentives.

Traditional companies across industries have been experimenting with blockchain-based loyalty and payments programs, according to the outlet, and the SEC under President Trump has taken a more permissive stance toward crypto, easing regulatory anxiety for firms considering similar moves.

Homebuilders have largely stayed on the sidelines of crypto after the sector’s boom-and-bust cycles, wary of volatility and regulatory risk. Megatel’s approach sidesteps those issues by positioning MegPrime as a tool tied to everyday spending and housing benefits, rather than a tradable currency.

— Eric Weilbacher