GiveDirectly, a nonprofit organization, has begun distributing cryptocurrency payments to low-income residents in parts of New York City as part of a pilot program.

Program structure and funding

The pilot covers 160 participants, each slated to receive a total of $12,000 in USDC, according to the organization. The initiative is funded by Coinbase and targets neighborhoods in the South Bronx and East Harlem.

Payment schedule and timeline

Since September, enrolled participants have been receiving recurring monthly transfers of $800, and in November they received a one-time lump sum payment of $8,000. The organizers state the program will continue until February 2026.

Objectives and selection rationale

GiveDirectly said the project aims to evaluate the effectiveness of direct cash transfers in underserved urban communities and whether stablecoin-based payments are suitable for social support delivery. New York was chosen due to its elevated poverty rates and receptive local authorities toward cryptocurrency experiments.

Operational notes

The payments are conducted in USDC, a dollar-pegged stablecoin, and intended to measure both short-term household impacts and operational feasibility. The organization will monitor outcomes over the duration of the pilot to inform future policy and program design.