Low-Income New Yorkers To Receive Crypto Stipend Via Coinbase
Coinbase is partnering with the non-profit GiveDirectly to launch a program providing crypto stipends to low-income New Yorkers between 18 and 30.
The project will distribute USDC worth $12,000 in six installments to 160 residents selected by lottery.
Using USDC to Relieve New York PovertyGiveDirectly, a US-based non-profit that lets donors send money directly to the world’s poorest households, has partnered with centralized exchange Coinbase to launch a new pilot program.
The initiative, dubbed “Future First,” aims to alleviate poverty in New York City by disbursing money to low-income residents. GiveDirectly will administer the program, while Coinbase will fund it and provide the necessary infrastructure.