Megatel Homes launches crypto payments and rewards token, MegPrime, after receiving SEC approval. Token allows users to earn rewards on everyday spending. Co-founder Zach Ipour says it’s the company’s first foray into digital assets. Tokens can be used for payments and rewards, not as investments. Issuance to start soon.

Users who pay rent or mortgage with MegPrime tokens can earn up to 20% back in rewards, redeemable for everyday purchases. Rewards can also be converted to US dollars. Renters may receive up to $25,000 towards a future home purchase by using tokens. Company aims to merge real estate and digital currencies.

Real estate companies are increasingly using blockchain technology in consumer programs. US Federal Housing Finance Agency (FHFA) is exploring crypto holdings for mortgage qualification. Director Bill Pulte supports this move, studying the use of crypto in the mortgage process. Integration of crypto in real estate is on the rise.

Read more at Yahoo Finance: Texas-Based Homebuilder Megatel Homes Receives SEC Nod to Issue Crypto Rewards