Coinbase and GiveDirectly Launch Crypto Stipend Program for Low-Income New Yorkers

Coinbase has partnered with non-profit GiveDirectly to launch Future First, a pilot program that provides cryptocurrency stipends to low-income residents of New York City. The initiative aims to explore how unconditional financial support in the form of digital currency can help improve lives while introducing participants to the practical use of crypto in everyday transactions.

The program will distribute $12,000 worth of USDC to 160 New Yorkers aged 18 to 30, selected by lottery. Payments will be made in six installments over five months, starting with a lump sum of $8,000, followed by five monthly payments of $800. GiveDirectly will oversee the entire disbursement process, while Coinbase will provide the funding and infrastructure needed to facilitate the transfers. Importantly, Coinbase will not be involved in choosing the recipients.

A spokesperson for Coinbase explained that the initiative aligns with the company’s mission of expanding economic freedom worldwide and demonstrates the potential of blockchain technology to benefit those who need it most. Participants can manage their stipends directly in their Coinbase account, transfer funds to a traditional bank, or use a Coinbase debit card for everyday purchases and ATM withdrawals.

Beyond financial assistance, the project serves as a learning experience for recipients, helping them gain familiarity with digital assets. Stablecoin use, while less common than cash or debit transactions, encourages participants to engage with crypto tools and systems that are becoming increasingly relevant in the global economy.

This effort marks Coinbase’s latest attempt at crypto-based philanthropy. The exchange previously launched GiveCrypto in 2018, which aimed to distribute digital assets worldwide but was later discontinued due to limited impact. Remaining funds from that program—$2.6 million—were donated to GiveDirectly and now help fuel the Future First initiative in New York.

By merging crypto adoption with poverty alleviation, Coinbase and GiveDirectly are testing how digital currencies can drive social change while empowering individuals to build financial resilience.