"MegPrime, an affiliate and subsidiary of Texas-based Megatel Homes, is set to launch its digital currency, the MP Token, designed as a rewards platform that renters and homeowners can tap into as a financial path to homeownership. As an inducement to participate in the rewards MP Token program, the program will offer up to $25,000 in down payment assistance and homebuyer assistance to renters who sign up."
"Down payment assistance: Renters who pay rent through the MegPrime app with MP Tokens could receive 100% of their past 12 months of rent up to $25,000 back as a down payment or to cover costs associated with a home purchase. Rental assistance: Customers can locate apartments through MegaPrime affiliate finders, sign a lease, and earn a 20% monthly reward by paying rent on the MegaPrime platform using MP tokens. Mortgage rate assistance: Users may access mortgage rates up to 2.0% below market rates when paying in MP Token through the MegPrime app."
"MegPrime Holding LLC received a No-Action Letter from the SEC on Thursday night, which will allow the company to begin operating the MP token and MegPrime platform. Zach Ipour, CEO and co-founder of Megatel Homes, told The Builder's Daily that the company plans to launch the new digital currency and updated MegPrime platform in Texas within a few weeks, with a nationwide rollout expected by the end of 2026. According to Ipour, several thousand people have reached out to the Megatel team in less than 24 hours to express their interest in using the MegPrime platform and MP Token."
MegPrime will launch the MP Token as a rewards-driven digital currency to provide renters and homeowners financial pathways toward homeownership. The program offers up to $25,000 in down payment or homebuyer assistance for qualifying renters and rewards for paying rent through the platform. Users can earn a 20% monthly reward on rent paid with MP Tokens and may access mortgage rates up to 2.0% below market when transacting in MP Token. Everyday purchases can yield up to 10% back via a MegPrime crypto debit card. The SEC issued a No-Action Letter permitting operation, with a Texas launch within weeks and nationwide rollout expected by end of 2026. The MP Token will be available on cryptocurrency exchanges and the company plans additional card products.
Read at www.housingwire.com
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