The income is drawn from a dividend on a kind of sovereign wealth fund which would be gradually capitalized with government assets, increased wealth and capital gains taxes, and possibly directly via the Fed (rather than the Fed capitalizing private banks).

This is in contrast to other schemes that directly pay the UBI based on more progressive taxation.

In the end it is still redistributive, but it redistributes capital downwards and not just income.

Social credit is slightly different than minimum income in that social credit is tied to the wealth of the country rather than the cost of subsistence.