Tobias Lütke, CEO and founder of 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 cryptocurrency exchange targets new products that appeal to cryptocurrency traders and investors globally, Coinbase said in a note.
- “We look forward to unlocking the potential of cryptocurrency to increase economic freedom in the same way that Shopify democratized online commerce,” Coinbase CEO Brian Armstrong said in a press release.
- Lütke was an early adopter of cryptocurrency with 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 opportunities exist for the many, not the few," Lütke said in a statement. "Coinbase and Shopify share this common vision, and I'm excited to join the board in supporting the future that Brian and the Coinbase team are building."
- Lütke joins a board that includes Armstrong, Coinbase co-founder Fred Ehrsam, a16z founder Marc Andreessen, and former Cisco CSO Kelly Kramer.