The strategic investment, led by X Ventures with participation from Crypto.com Capital, will accelerate the rollout of Cheeze’s Stable Points and Wallet-Linked Offers, a next-generation upgrade to traditional brand loyalty programs. Cheeze is poised to bring millions of consumers and merchants into the onchain economy, making loyalty programmable, seamless, and instantly rewarding for the first time.

[Dubai, UAE – September 30, 2025] — Cheeze, the loyalty infrastructure company reshaping how brands and consumers connect, today announced the rollout of Stable Points and Wallet-Linked Offers, a new programmable onchain reward system designed to redefine loyalty in a digital-first economy. The announcement comes on the heels of a grant from the Coinbase Base team and a strategic investment round led by X Ventures, with participation from Crypto.com Capital, Newman Capital, Arcadia Ventures, MH Ventures, and high-profile angels including REKT Brands CEO Ovie Faruq.

The new funding will accelerate Cheeze’s transition from successful pilot programs to full-scale deployment of its flagship loyalty products. After eight months of real-world testing, Cheeze is now moving into the next phase: embedding programmable, onchain rewards directly into everyday payments. With Stable Points, users automatically earn fiat-pegged tokens simply by spending with their existing debit cards, credit cards, or crypto wallets. These rewards are programmable, milestone-driven, and instantly redeemable.

“X Ventures is excited to lead this round,” said Zohair Dehnadi, Founder of X Ventures. “Cheeze combines deep product thinking with flawless execution. With Stable Points, they’ve created a foundation that can completely reimagine how loyalty works, transparent, flexible, and global from day one. We’re backing a brand that’s thinking decades ahead.”

From QR Pilots to Payment-Linked Rewards

For the past eight months, Cheeze has been piloting Wallet-Linked Offers across marquee events in the Web3 and cultural space, including:

• NFT Paris with REKT Drinks via barcode scanning

• Proof of Talk at The Louvre with activations and scavenger hunts using information QR codes on qualifying art pieces

• Base Batches, a Coinbase developer initiative, rolled out across 52 cities

These activations validated the platform’s ease of use and high user engagement. Consumers linked wallets and earned onchain rewards instantly by scanning QR codes and barcodes, no apps, extensions, or signups required. With Stable Points now live, that same seamless user experience extends into real-world spending.

Loyalty That Works Like the Internet

Stable Points are issued to users when they spend at qualifying merchants and unlock upon meeting defined conditions like frequency, minimum spend, or specific SKUs. Each Stable Point is pegged to the USD; however, the brand can choose what the conversion is based on their own needs and requirements. This is not a speculative token; it’s a programmable, spendable unit of loyalty. 

This means brands can launch a fully operational onchain loyalty program with zero upfront cost, avoiding the burden of funding unused points or setting aside large liability reserves. Brands only pay when rewards are issued and redeemed, turning loyalty from a fixed cost into a real-time performance channel.

Cheeze Builds on the CLO Legacy
Cheeze's WLOs extend, not replace, traditional Card Linked Offers (CLOs). By using wallet infrastructure in addition to the bank networks, Cheeze creates a faster, smarter way to offer rewards:

• Users earn with linked bank cards or crypto wallets

• Brands define rewards via programmable smart contracts

• Rewards are instant, auditable, and redeemable

By replacing closed financial infrastructure with open wallet protocols, Cheeze enables brands to control, automate, and personalise loyalty at scale.

Cheeze is laying the groundwork for the future of stablecoin payments. As global platforms like Shopify and Coinbase begin enabling merchants to accept stablecoins natively, Cheeze positions itself as the loyalty layer for that next frontier. When brands start accepting stablecoins at checkout, they’ll now be able to instantly offer onchain rewards through Stable Points. 

Over the past few months, Cheeze has been quietly speaking to and partnering with virtual card providers, PoS technology firms and neobanks to join its Radar Program, which passively listens for transactions made using users’ linked cards and wallets. Once linked, users are automatically eligible to earn Stable Points when they spend at qualifying merchants.

“We’re pleased to participate in this strategic funding round,” said Ashley Ouyang, Investor at Crypto.com Capital. “The rewards space presents a compelling opportunity, and we look forward to exploring how our suite of products can reach more users around the world. Partnering with Cheeze and other leading investors in this round is a strong and strategic move.”

Instant Setup. Zero Upfront Cost.

Cheeze is onboarding merchants to its loyalty network, providing NFC tags and QR codes in venues so consumers can access the Rewards App. The approach draws inspiration from the early days of Mastercard and Visa, when merchants displayed a sticker to signal card acceptance, and sets the stage for $Points to be earned at any point of sale. At the same time, Cheeze is piloting its Connect program, enabling merchants to integrate loyalty directly at the POS level and create highly targeted, gamified campaigns linked to specific products and line items.

Launching in Dubai
Cheeze will begin its rollout in Dubai, where fintech adoption, modern regulation, and a globally connected merchant base make it the perfect first city.

Founder and CEO Simon Hudson, who has been a Dubai resident for over 16 years, shared how the city was the natural choice for the first rollout of Stable Point-enabled payments. Over the past few months, Hudson has reconnected with long-standing contacts in the region and quietly partnered with both local institutions and globally recognised retailers.

“Having lived in Dubai for many years, I’ve seen firsthand how quickly the region embraces innovation,” said Hudson. “Over the years, I’ve built strong relationships with friends and colleagues who are now leaders in their respective industries. Together, we’ve been exploring how onchain infrastructure and Stable Points can transform brand loyalty for merchants across the region. There’s a shared excitement around what this next chapter looks like, and Dubai is the ideal launchpad for it.”

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About Cheeze
Cheeze is building the infrastructure for onchain loyalty, enabling brands to issue Wallet -Linked Offers and Stable Points to millions of users through smart contracts, virtual cards, and blockchain wallets. Backed by investors including Crypto.com Capital, X Ventures, Newman Capital, and Netflix’s Marc Randolph, Cheeze is redefining how customer rewards work in a programmable world. Learn more at cheeze.com.

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About X Ventures
X Ventures is a Berlin-based venture capital firm backing visionary founders at the intersection of technology, finance, and digital culture. With a focus on early-stage investments, X Ventures partners with bold teams building the infrastructure of tomorrow, from Web3 and AI to fintech and digital consumer platforms.

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About Crypto.com Capital
Crypto.com Capital is the investment arm of Crypto.com, backing visionary founders building the future of Web3. The fund focuses on early-stage startups across crypto, DeFi, and blockchain infrastructure, offering capital, global reach, and strategic support.

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