Cypher, the on-chain payment and loyalty platform founded in 2022, has officially launched its native token on October 5, 2025, at 9:00 UTC. The announcement marks a significant milestone for the platform as it secured listings across prominent centralized and decentralized exchanges, such as Binance Alpha, KuCoin, and Aerodrome Finance, quickly trending at #1 on Dexscreener after its debut on the Base network. This extensive exchange presence is tailored to enhance liquidity and ensure global accessibility for its users, with further exchange partnerships anticipated shortly.
CEO Kube, a former Risk Engineering Lead at Coinbase, expressed enthusiasm for the project, stating, “Cypher is creating the WhatsApp moment for consumer financial apps. For too long, loyalty has been locked into expiring points and restricted programs. With Cypher, brands can deliver rewards directly on-chain, offering users ownership and seamless crypto spending.”
Cypher’s innovative approach has garnered backing from esteemed investors, including Y Combinator, Samsung Next, Coinbase Ventures, and angel investor Balaji Srinivasan, reflecting confidence in its mission to revolutionize payments and loyalty through blockchain technology. The platform has reportedly attracted a community of more than 100,000 users across over 120 countries, showcasing a robust demand for non-custodial payment solutions that integrate crypto with everyday spending habits.
Central to Cypher’s ecosystem is the Cypher Card, a non-custodial wallet that has been operational for three years, specifically designed to facilitate everyday spending with cryptocurrencies and stablecoins. Key features of the Cypher Card include:
- Non-custodial Characteristics: Users can link any self-custodied wallets, maintaining ownership of their funds while topping up their cards from their stablecoin balances.
- Multi-chain Support: The card can be used worldwide wherever Visa is accepted and supports over 15 blockchains, allowing seamless spending of crypto and stablecoins.
- Instant Access: Users receive immediate access to virtual cards upon signup, with options for physical cards available.
- On-chain Rewards: Cardholders can earn CYPR tokens with each purchase, with bonus rewards at selected partner merchants.
- Enhanced Controls: Features like card locking/unlocking, spending limit adjustments, and country-level restrictions offer users greater control.
- Premium Tier: A Metal Card option offers zero forex markup and elevated monthly limits.
The global loyalty market presents a significant opportunity, with over $1 trillion in unredeemed loyalty value hindered by fragmentation, expirations, and restrictions. Cypher aims to address these issues by merging everyday transactions with blockchain incentives, paving the way for a more user-friendly rewards ecosystem.
To maximize rewards for users, Cypher has developed a robust incentive structure. Cardholders can enjoy signup bonuses, cashback for purchases, and referral rewards. Token holders can lock CYPR to receive veCYPR and participate in governance, voting for their favorite brands to receive new CYPR emissions, thereby earning additional rewards.
Cypher’s economic design fosters a self-reinforcing cycle that aligns the interests of consumers, brands, and token holders, driving sustainable growth. With a total supply capped at 1 billion tokens, a portion has already been airdropped to encourage early adoption, while allocations for the team and investors are subject to a strict vesting schedule to maintain alignment with the protocol’s long-term success.
The broader vision of Cypher Protocol is to shape a future where users maintain control of their assets and merchants can issue tokenized incentives on-chain. By leveraging stablecoins for payments, Cypher aims to eliminate barriers to mainstream cryptocurrency adoption and empower consumers and brands alike.
In light of these developments, Kube emphasized the platform’s goal: “Cypher is about empowering consumers, brands, and merchants. We aim to make crypto not just an investment but a practical tool for everyday spending.”
With its innovative approach to payments and loyalty, Cypher is well-positioned to transform the traditional loyalty landscape into a transparent and user-driven economy, paving the way for a new era in decentralized finance.
