30 November 2025

Coinbase Funds Cryptocurrency-Based Universal Basic Income Pilot in New York
Coinbase is sponsoring a universal basic income UBI pilot program called Future First in New York, aimed at assisting low-income individuals while also studying the effects of delivering funds in cryptocurrency. 160 New Yorkers will receive a total of 12,000 in USDC, Circle s stablecoin, with no restrictions on how the money can be spent.
The payments will be distributed over six months, starting with a lump sum of 8,000 followed by five installments of 800 each. Givedirectly, a nonprofit experienced in similar programs worldwide, will manage the initiative.
However, there are concerns about the potential risks of using cryptocurrency for such programs. Hilary Allen, a law professor, cautioned that this method could encourage recipients to invest in volatile cryptocurrencies like Bitcoin. She stated,
Giving money in this way is very much designed to make it easier to take that money to bet on Bitcoin.
Despite these concerns, Emma Kelsey from Givedirectly highlighted the cost-effectiveness of using crypto for these transactions. The first batch of 800 payments will cost less than 30 cents to issue. At the end of the pilot, participants will be surveyed about their experiences with managing these funds in cryptocurrency.
This pilot serves a dual purpose: to assess the impact of free income on participants lives and to evaluate the practicality of using cryptocurrency for financial assistance. As discussions around UBI gain traction due to the rise of artificial intelligence and potential job displacement, this experiment could provide valuable insights.
If successful, this pilot could demonstrate that cryptocurrency is a viable option for delivering financial support to those unfamiliar with the technology, showcasing the versatility and stability of blockchain solutions.