Techub News reports that Texas-based private residential builder Megatel Homes LLC announced it will begin issuing a token called “MegPrime” for payments and rewards. Previously, the US SEC sent the company a “no-action” letter, effectively allowing the company to proceed with the project.
The company stated that MegPrime tokens will be issued in the coming weeks, with marketing purposes limited to payments and earning rewards, not as an investment. Consumers will be able to use the tokens at regular merchants through digital wallets and payment cards. The company said that in return, they can receive rebates (paid in the form of additional MegPrime tokens), discount gift cards, and points that can be exchanged for housing-related benefits.