Shopify CEO Joins Coinbase Board of Directors

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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