Founder and CEO of Shopify – Tobias “Tobi” Lütke – will join Coinbase’s Board of Directors. The company’s CEO – Brian Armstrong – described him as a “tremendous entrepreneur” who also believes in “the power of crypto.”
A seat for Lütke among the directors
In a recent blog post, Armstrong stated that Coinbase wants to expand its international reach and develop new products. He believes Lütke would be a valuable addition to accomplish these objectives: I am delighted to share that Tobias “Tobi” Lütke, CEO and Founder of Shopify, will join Coinbase’s board of directors.
Armstrong described how Shopify’s newest member of the Board of Directors has built it “from scratch” and has transformed it into a global commerce leader.
In addition to his previous experience, Lütke is well-versed in the digital asset industry. The 41-year-old German believes that the decentralized finance and entrepreneurship prototype represents the Web3 vision, where opportunity exists for all.
Lütke continued, “I’m excited to join Brian Armstrong, and the rest of the team as Coinbase and Shopify have similar visions for the future.”. Additionally, the CEO of the trading venue predicted that cryptocurrencies could boost economic freedom in a similar manner to how “Shopify democratized online shopping.”
Crypto-related forays by Shopify
In 2020, the e-commerce giant hopped on board the crypto bandwagon by allowing customers to pay with bitcoin and fiat currencies. Later, it enabled settlements with numerous other cryptocurrencies, such as Ether, Litecoin, Dogecoin, etc.
By the end of last year, Shopify made it possible for users to mint and trade non-fungible tokens by partnering with GigLabs, a company that provides tools for working with NFTs.
Consequently, users can purchase digital collectables using a variety of payment methods, including Shopify payments, Shop Pay, cryptocurrencies, and credit or debit cards: The NFTs can be easily claimed by email, and they can be added directly to the customer’s wallet.”
Shopify’s team has clarified that its clients can mint non-fungible tokens on various platforms, including Ethereum, Near, Polygon, and Flow, via its partner applications. The NFT Beta program is being offered to merchants based in the United States.
