Coinbase Launches $12K USDC Pilot NYC

Coinbase Funds $12,000 Stablecoin Pilot for Low-Income New Yorkers

• GiveDirectly administers a pilot in New York, distributing $12,000 in stablecoins to low-income young adults.
• The program is funded by Coinbase and targets 160 individuals selected by lottery.
• The initiative aims to study the impact of unconditional crypto support on low-income residents.
• Coinbase has expanded access to digital assets for New York residents, supporting broader cryptocurrency integration.
• This project aligns with efforts to incorporate stablecoins into public financial assistance initiatives in New York.

A pilot program in New York provides $12,000 in stablecoins to 160 low-income young adults through Coinbase funding, administered by GiveDirectly. This initiative supports the integration of stablecoins into public financial programs.