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Shopify CEO Joins Coinbase Board of Directors

 


Coinbase announced on Monday that it would add Shopify's CEO and co-founder to its board of directors.



Coinbase brings Shopify CEO to board

Coinbase announced on Monday that Tobias Lutke, who runs e-commerce giant Shopify, will join Coinbase's board of directors. In 2020, Coinbase added executives from Cisco and DoorDash to its board as the company sought broader corporate leadership experience ahead of its IPO.


In a blog post, Coinbase highlighted Lütke's early support for cryptocurrencies and suggested that Ottawa-based Shopify could play an important strategic role in the future of cryptocurrency:


“Tobi brings a variety of skills and experience to the Coinbase board. First and foremost, he's a great entrepreneur who built Shopify from the ground up into a world-leading commerce company. He is also a strong believer in the power of cryptocurrencies and was an early adopter of cryptocurrencies through Shopify's integration with Coinbase Commerce. Shopify, serving millions of merchants in more than 175 countries, sits at the intersection of three key areas that cryptocurrencies aim to revolutionize: finance and payments, web applications, and the internet itself.”


It seems that the cryptocurrency exchange is planning a global expansion. Coinbase recently acquired FairX and will now offer crypto derivatives trading on the platform. Additionally, the company has partnered with Thirty Five Ventures, a company founded by Kevin Durant and Rich Kleiman, to collaborate on NFT drops and educate people about NFTs. In addition, users can view NFTs on their desktop applications as well.



Lütke started his career as an active member of the open source community, where he contributed to projects such as Ruby on Rails, Liquid and ActiveMerchant. He was introduced to e-commerce at an early age and founded a snowboard gear brand in 2004, which became Shopify.

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