[Texas Real Estate Firm Megatel Plans to Launch Crypto Reward Token, Receives SEC 'No-Action' Letter Approval] Odaily Planet Daily News – Texas-based private residential developer Megatel Homes has announced plans to launch a cryptocurrency token called 'MegPrime' for payments and rewards in the coming weeks. This decision has already received a 'No-Action' letter from the U.S. Securities and Exchange Commission (SEC), indicating that the regulatory agency will not take enforcement action against the project. Megatel CEO Zach Ipour stated that MegPrime marks the company's first venture into the digital asset space. The token will solely serve as a payment and reward tool, rather than an investment product. Consumers will be able to use the token via digital wallets and payment cards at regular merchants, and receive rebates, discount gift cards, and points redeemable for housing-related benefits in token form. The report notes that MegPrime does not grant holders any securities-related rights, such as voting rights or profit-sharing rights. Megatel believes that by integrating its real estate development and financing business, this model has the potential to further merge real estate activities with cryptocurrency incentive mechanisms. (Reuters)