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A first-of-its-kind experiment in the U.S. is giving young adults in New York a steady stream of cryptocurrency instead of traditional cash. The new initiative, called Future First, is run by the nonprofit GiveDirectly and funded by Coinbase using Circle’s USDC stablecoin.
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Unlike earlier guaranteed income programs that rely on dollars, Future First distributes stablecoins pegged to the U.S. dollar. The aim is to test whether crypto can make aid delivery faster, cheaper, and more transparent. Participants get an initial $8,000 lump sum, followed by five $800 payments, offering both immediate relief and continued support.
Emma Kelsey, who leads U.S. programs at GiveDirectly, explained,
“You could imagine a lump sum being used for a security deposit, for example… We have a hypothesis that for this age group, that lump sum model also makes a lot of sense, just given this pivotal life stage.”
Coinbase is footing the bill for the project, while Circle’s USDC serves as the medium of exchange. The collaboration brings together philanthropy, fintech, and blockchain in one social experiment.
Darin Carter, Coinbase’s head of U.S. policy and grassroots advocacy, said the effort aims to “provide financial support” and “showcase how blockchain-based payments can have a positive impact.”
By using USDC, transactions avoid delays and fees tied to the traditional banking system. Recipients can convert their digital dollars to cash or use them directly with merchants who accept crypto payments.
Guaranteed income programs have been tried in several U.S. cities, from Stockton to Chicago, but all have relied on fiat currency. Future First stands out as the first known crypto-based version, blending financial aid with financial innovation.
Advocates believe crypto-based payments could eventually make public assistance more efficient—especially for people without easy access to banks. With USDC’s stability and Coinbase’s compliance framework, the program minimizes volatility concerns that typically come with digital assets.
The experiment could also influence future debates around digital dollar adoption and financial inclusion, testing whether blockchain tech can truly help close wealth gaps in urban communities.