Shopify Founder and CEO – Tobias “Tobi” Lütke – will join Coinbase’s Board of Directors. The CEO of the cryptocurrency exchange – Brian Armstrong – described him as a “super entrepreneur” who also deeply believes in the “power of crypto”.
Lütke to Sit Among The Directors
In a recent blog post, Armstrong stated that Coinbase seeks to expand its international scope and build new products. In his view, having “Tobi” Lütke onboard would be highly beneficial for that goal:
“I’m thrilled to announce that Tobias “Tobi” Lütke, CEO and Founder of Shopify, will join Coinbase’s Board of Directors.”
Armstrong highlighted that the newest member of the Board of Directors has built Shopify “from the ground” and turned it into a global commerce leader.
Apart from his previous experience, Lütke is also a strong supporter of the digital asset industry. The 41-year-old German believes that the prototype of decentralized finance and entrepreneurship “exemplifies the promise of Web3 where opportunities exist for many, not for the few”.
Lütke further added he is excited to join Brian Armstrong and the rest of the team as Coinbase and Shopify share the same vision for the future.
Subsequently, the trading platform’s CEO predicted that cryptocurrencies had the potential to increase economic freedom in the same way that “Shopify has democratized online commerce”.
Shopify’s Crypto Forays
The multinational e-commerce company hopped on the crypto bandwagon in 2020 by allowing customers to pay in bitcoin as well as fiat currencies. Later on, it enabled settlements with numerous other assets, including Ether, Litecoin, Dogecoin, and many more.
Late last year, Shopify doubled down on support by allowing users to mint and trade non-fungible tokens. To do this, the firm has partnered with GigLabs, an organization specializing in providing tools to work with NFTs.
As a result, users can purchase digital collectibles by various settlement methods, including Shopify payments, Shop Pay, cryptocurrencies, credit or debit cards:
“Plus, customers can easily claim their NFTs via email and add them directly to their wallet.”
Shopify’s team clarified that clients are able to mint non-fungible tokens on various platforms, including Ethereum, Near, Polygon, and Flow, by teaming with its partner applications.
The initiative, called NFT Beta, is currently available to merchants based in the United States of America.
