Shopify CEO Joins Coinbase Board of Directors

Tobias Lütke scaled Shopify from a niche online marketplace to a global e-commerce giant.

AccessTimeIconJan 31, 2022 at 2:00 p.m. UTC
Updated Jan 31, 2022 at 3:57 p.m. UTC

Shaurya is an analyst/editor for CoinDesk's markets team in Asia.

Tobias Lütke, CEO and founder of the e-commerce site Shopify, will join Coinbase’s board of directors subject to formal board approval later this week.

  • Lütke will help Coinbase with its expansion plans as the crypto exchange targets newer products that appeal to crypto traders and investors internationally, Coinbase said in a note.
  • “We hope to unlock crypto’s potential to increase economic freedom in the same way Shopify democratized online commerce,” Coinbase CEO Brian Armstrong said in a press statement.
  • Lütke was an early adopter of crypto through Shopify’s integration with Coinbase Commerce. It serves millions of merchants in more than 175 countries.
  • “The concepts of decentralized finance and entrepreneurship exemplify the promise of Web 3 where opportunity exists for the many, not the few,” said Lütke in a statement. “Coinbase and Shopify share this like-minded vision, and I am excited to join the Board to support the future that Brian and the Coinbase team are building.”
  • Lütke joins a board that includes Armstrong, Coinbase cofounder Fred Ehrsam, a16z founder Marc Andreessen and Kelly Kramer, the former CSO of Cisco.

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Shaurya is an analyst/editor for CoinDesk's markets team in Asia.

CoinDesk - Unknown

Shaurya is an analyst/editor for CoinDesk's markets team in Asia.