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A Dallas-based homebuilder has received SEC clearance to launch a crypto rewards platform that will let renters earn digital tokens by paying rent on time — and potentially receive up to $25,000 toward a future home purchase.
Megatel Homes said Thursday it secured a no-action letter from the Securities and Exchange Commission for MegPrime, a token-based platform that aims to help renters build wealth and transition to homeownership.
The regulatory green light marks one of the first times the SEC has cleared a consumer-facing crypto rewards program tied to housing payments.
The move comes as roughly 32% of Americans rent their homes and face mounting barriers to homeownership, including elevated mortgage rates and surging home prices.
The SEC’s no-action letter allows MegPrime’s crypto reward platform to proceed as long as it strictly adheres to the structure outlined in its submission.
A no-action letter does not amount to formal approval, but it indicates that the regulator does not intend to recommend enforcement if the project operates as described.
Megatel said the platform will center on “MP Tokens,” which renters can earn as rewards when they pay rent using the token system. Those rewards can then be used for everyday purchases or converted into U.S. dollars.
The company said MegPrime had been developed quietly to ensure compliance before going public.
In a post on X, MegPrime said the company “operated in stealth-mode to meet regulatory requirements,” underscoring how carefully the crypto reward platform was designed to fit within existing rules.
The SEC’s stance is notable given its historically cautious approach to crypto-linked consumer products. The letter suggests that, under specific conditions, a crypto reward platform tied to real-world activity like rent payments can avoid being treated as a securities offering.
Megatel executives framed the crypto reward platform as a response to mounting pressures in the U.S. housing market. Aaron Ipour, co-founder of Megatel Homes and MegPrime, said the initiative is meant to ease financial strain for renters and aspiring buyers.
“As the housing market continues to grapple with unsustainable interest rates and price inflation, MegPrime provides a real financial lifeline to renters, homeowners, and aspiring homebuyers,” — Aaron Ipour, Co-founder, Megatel Homes and MegPrime.
The company made bold claims about potential benefits. According to MegPrime, renters who consistently use the crypto reward platform to pay rent may be “eligible to receive 100% of their past 12 months of rent, up to $25,000, toward a future home purchase.” While the eligibility criteria were not detailed, the promise highlights how the platform aims to link renting more directly to homeownership.
The pitch comes as roughly 32% of Americans live in rental housing, making renters a large and often underserved market. By tying rent payments to tokenized rewards, Megatel is betting that a crypto reward platform can differentiate itself in a competitive housing environment.
Crypto-based cashback and rewards are not entirely new, having been offered through credit cards for years. What sets MegPrime apart is its focus on housing and its reliance on a crypto reward platform that integrates directly with rent and mortgage-related incentives.
MegPrime also claims that homeowners using the platform may be able to access mortgage rates up to 2% below the market average, potentially saving thousands of dollars over the life of a loan. For context, the average 30-year fixed-rate mortgage in the United States currently stands at 6.06%, according to .
The SEC’s willingness to issue a no-action letter comes amid a broader shift in tone from the agency’s leadership, the current SEC chair, has expressed more favorable views toward digital assets than some of his predecessors. Earlier this week, Atkins said he is “bullish” on the prospects of U.S. President Donald Trump signing a crypto-related bill this year.
While the SEC emphasized that its position depends on MegPrime following its stated plan, the move suggests a growing recognition that consumer-facing crypto products, including a crypto reward platform, can exist within regulatory boundaries.
The launch of MegPrime’s crypto reward platform could serve as a test case for similar programs across other industries. If successful, it may encourage developers, landlords, and fintech firms to explore token-based incentives tied to real-world payments, from utilities to insurance.
At the same time, analysts caution that execution and transparency will be critical. The SEC’s no-action letter offers conditional comfort, not blanket approval, and any deviation could quickly draw scrutiny.
For now, Megatel’s initiative highlights how a crypto reward platform is moving beyond speculation and into everyday economic activity.
Whether renters embrace the model—and whether the promised benefits materialize—will determine if this experiment reshapes how Americans think about rent, rewards, and the path to homeownership.
