US homebuilder Megatel Homes is launching a crypto rewards platform called MegPrime after receiving a “no-action” letter from the SEC. Users can earn rewards by using “MP Tokens” for rent and everyday purchases. The platform promises financial benefits for renters, homeowners, and homebuyers.

MegPrime offers renters the chance to receive 100% of their past 12 months of rent, up to $25,000, towards a future home purchase. Homeowners may access mortgage rates up to 2% below the market average, potentially saving thousands of dollars. The platform aims to revolutionize housing finance with crypto cashback rewards.

Recent data shows that around 32% of people in the US live in rental housing. The average 30-year fixed-rate mortgage in the US currently stands at 6.06% according to Freddie Mac. SEC chairman Paul Atkins continues to voice pro-crypto views, supporting innovative programs like MegPrime in the housing market.

Read more at Cointelegraph: US Homebuilder To Launch Crypto Rewards After Regulatory OK