{"id":60598,"date":"2025-10-05T05:20:19","date_gmt":"2025-10-05T05:20:19","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/new-york-residents-receive-crypto-instead-of-cash-in-future-first-trial\/"},"modified":"2025-10-05T05:20:19","modified_gmt":"2025-10-05T05:20:19","slug":"new-york-residents-receive-crypto-instead-of-cash-in-future-first-trial","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/new-york-residents-receive-crypto-instead-of-cash-in-future-first-trial\/","title":{"rendered":"New York Residents Receive Crypto Instead of Cash in Future First Trial"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>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\u2019s USDC stablecoin.<\/p>\n<hr\/>\n<p><em><strong>Good to Know<\/strong><\/em><\/p>\n<ul>\n<li><em><strong>Each participant will receive $12,000 in USDC over five months.<\/strong><\/em><\/li>\n<li><em><strong>The pilot involves 160 residents, aged 18 to 30, all selected through a lottery system.<\/strong><\/em><\/li>\n<li><em><strong>Funds are deposited directly into Coinbase accounts, with no spending restrictions.<\/strong><\/em><\/li>\n<\/ul>\n<hr\/>\n<p>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.<\/p>\n<p><strong>Emma Kelsey, who leads U.S. programs at GiveDirectly<\/strong>, explained,<\/p>\n<p><em>\u201cYou could imagine a lump sum being used for a security deposit, for example\u2026 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.\u201d<\/em><\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Coinbase is footing the bill for the project, while Circle\u2019s USDC serves as the medium of exchange. The collaboration brings together philanthropy, fintech, and blockchain in one social experiment.<\/p>\n<p>Darin Carter, Coinbase\u2019s head of U.S. policy and grassroots advocacy, said the effort aims to <em>\u201cprovide financial support\u201d<\/em> and <em>\u201cshowcase how blockchain-based payments can have a positive impact.\u201d<\/em><\/p>\n<p>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.<\/p>\n<h2>About the Program<\/h2>\n<p>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.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>5BTC or 111% + 111 Free Spins!<\/strong> <\/p>\n<p>New players only. Exclusive 111% Welcome Bonus + 111 Free Spins<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Advocates believe crypto-based payments could eventually make public assistance more efficient\u2014especially for people without easy access to banks. With USDC\u2019s stability and Coinbase\u2019s compliance framework, the program minimizes volatility concerns that typically come with digital assets.<\/p>\n<p>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.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/future-first-launches-americas-first-crypto-guaranteed-income-program-in-the-us\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) 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\u2019s USDC stablecoin. Good to Know Each [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":60599,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/60598"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=60598"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/60598\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/60599"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=60598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=60598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=60598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}