The founder and current CEO of Shopify Tobias Lütke has joined the board of Coinbase. He will bring his experience and help Brian Armstrong’s company to expand internationally.
Tobias Lütke joins Coinbase’s board of directors
On his blog, Brian Armstrong announced that Shopify founder Tobias Lütke has joined the Coinbase board of directors.
Tobias Lütke’s company is a platform that allows individuals and businesses to create and run their own e-commerce site.
In addition to developing his company, the Shopify CEO is a proponent of cryptocurrencies and non-fungible tokens (NFTs).
With this new integration, Tobias Lütke is expected to bring his experience to create new products and help Coinbase expand internationally.
“Shopify sits at the intersection of three important areas that crypto is looking to revolutionize: finance and payments, web applications, and the internet itself. With Tobias Lütke’s guidance, we hope to unlock the potential of cryptocurrencies in the same way that Shopify democratized online commerce,”said Brian Armstrong.
Thus, the two companies complement each other and the respective founders share a common vision of decentralization.
With this in mind, Shopify was one of the first e-commerce platforms to embrace cryptocurrencies through Coinbase Commerce. This integration has obviously benefited its merchant network, which spans over 175 countries.
While this has yet to be formally confirmed by the board of directors, it’s a safe bet that Tobias Lütke’s name recognition and expertise remains an asset for Coinbase’s future.
“The concepts of decentralized finance and entrepreneurship exemplify the promise of Web3, where opportunities exist for the many, not the few. Coinbase and Shopify share this common vision, and I am excited to join the board to support the future that Brian and the Coinbase team are building,”said Tobias Lütke.