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Shopify CEO joining board of Coinbase, the largest U.S. crypto exchange

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Cryptocurrency exchange Coinbase Global Inc. says Shopify CEO Tobi Lutke will join its board of directors.

Coinbase founder Brian Armstrong said in a release that Lutke brings experience as an entrepreneur, and as an early adopter of crypto including through Shopify’s integration with Coinbase’s crypto payment platform.

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He says Lutke will help as Coinbase looks to expand crypto to more people and businesses globally.

Lutke said in a statement that Coinbase and Shopify share the like-minded vision of decentralized finance and entrepreneurship.

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In 2020, Shopify also joined the Facebook-backed Diem (then called Libra) Association that was working on a global digital currency, though media reports last week said that the association was selling its assets.

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Coinbase says the appointment is still subject to formal board approval.

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