New York Pilot Hands Out $12,000 in USDC to 160 Low-Income Residents
A new Coinbase-backed initiative is testing whether crypto can play a meaningful role in social welfare. As part of a guaranteed basic income experiment, 160 young adults from South Bronx and East Harlem are receiving a total of $12,000 each - entirely in USDC.The program, called Future First, is operated jointly by Coinbase and the nonprofit GiveDirectly. It targets residents aged 18 to 30 living in some of New York City’s most economically stressed neighborhoods. The goal is to explore whether recurring digital payments can improve financial stability, housing, education and overall quality of life.
How the USDC payments are structured
Unlike traditional basic income experiments, Future First uses a mixed distribution model. Each participant immediately received a one-time transfer of $8,000 in USDC. After that, they continue to receive $800 per month for five months, bringing the total to $12,000.The funds are sent directly to users’ Coinbase wallets in USDC - a stablecoin pegged to the U.S. dollar. The structure is designed to give participants enough upfront capital to make meaningful changes in their lives, while still providing a short-term financial runway through recurring monthly payments.
Why USDC was chosen for the trial
Program organizers say USDC offers several advantages over cash-based benefits. Transfers settle instantly, fees are minimal, and recipients can move funds between bank accounts, crypto wallets or merchant cards without relying on slow legacy systems. Using a stablecoin also allows the program to test how digital assets behave in real-life financial planning scenarios, rather than treating crypto as a speculative instrument.Participants are free to manage the USDC however they choose. They can withdraw it to a traditional bank, send it to another wallet, use a Coinbase crypto card for everyday spending, or even leave it in a savings yield account that offers 4.1% APY. The flexibility is meant to mirror real financial autonomy rather than restricting how benefits are spent.
A targeted experiment for underserved communities
South Bronx and East Harlem have some of the highest rates of poverty and housing instability in New York City. By focusing on these neighborhoods, the program aims to examine whether digital assets can reduce systemic barriers that typically make financial mobility difficult for young adults in low-income households.Because recipients are entirely free to manage the funds, researchers hope to observe natural spending patterns: whether participants prioritize rent, education, healthcare, debt repayment or long-term savings. This behavior-driven approach stands in contrast to traditional aid programs that impose strict conditions or spending guidelines.
Why the program matters for the future of basic income
Guaranteed basic income experiments have become increasingly common in the United States, but few have used cryptocurrency as the primary distribution method. That makes Future First one of the first large-scale tests of stablecoin-based welfare. If USDC proves to be efficient, secure and easy for residents to use, it could push policymakers to consider digital assets as a viable tool for public assistance programs.The pilot could also influence the broader debate over whether unconditional payments help recipients achieve upward mobility. Researchers will track the impact on housing stability, education enrollment, employment outcomes and financial stress levels. Collecting this data is a central priority for the program’s partners, who want to understand whether crypto-enabled benefits are more effective than traditional systems.
Timeline and expected outcomes
The Future First program began in September 2025 and will continue until February 2026. Data analysis and reporting will follow throughout the year, with final results expected to shed light on whether digital-asset distributions can operate at scale without creating new risks for recipients.While the experiment remains small, the stakes are significant. If positive results emerge, similar pilots could expand to other cities or evolve into long-term guaranteed income programs. And if USDC proves to be a reliable tool for low-income households, it may accelerate mainstream adoption of stablecoins far beyond the crypto industry’s current user base.
For now, Future First stands as one of the most ambitious tests of crypto’s real-world utility - not as an investment, but as a mechanism for economic support and financial empowerment.
Editorial Team - CoinBotLab
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