Key takeout
- Givedirectly manages a New York pilot that has stabilized $12,000 for low-income young adults funded by Coinbase.
- The program is aimed at young adults with low-income New York who have been selected for the lottery.
The New York Pilot Program offers a stable $12,000 to low-income residents through Coinbase funding managed by the non-profit Givedirectly. The initiative covers 160 young adults selected by lottery to study the impact of unconditional crypto support.
Coinbase recently expanded access to a variety of digital assets for New York residents, supporting a wider cryptocurrency integration in state-regulated environments.
Stablecoins, a digital currency fixed on stable assets, is increasingly integrated into institution-focused financial programs. Assets are positioned for the use of institutional grades in line with New York’s efforts to incorporate them into public financial aid initiatives.
The pilot represents a New York cryptocurrency initiative aimed at studying the unconditional income of crypto and its impact on low-income young adults.
