Shopify CEO Tobias Lütke to Join Coinbase Board


Tobias Lütke was among the first crypto users to integrate Shopify with Coinbase Commerce.

Tobias Lütke, the mastermind behind one of the world’s largest e-commerce sites, Shopify, is about to take on a new responsibility. Bringing his enthusiasm and interest in crypto to the fore, Tobias would soon be on the board of Coinbase. Tobias’ contribution to the crypto exchange’s expansion plans is going to be huge although formal board approval is still pending.

What does Tobias Lütke’s inclusion in Coinbase’s BOD suggest?

Coinbase’s mission is to increase economic freedom around the world and provide access to financial services for everyone. To this end, the crypto company is targeting new products, including the NFT market, and developing strategies to increase its international footprint. This is where Tobias Lütke’s skills and expertise would come into play as he helps Coinbase achieve its mission in the same way Lütke democratized e-commerce. As Shopify and Coinbase seek to revolutionize similar areas, namely finance and payments, internet and web applications, Lütke’s experience and knowledge in the industry would come in handy for Coinbase.

Another important observation is Tobias’ belief in the power of crypto to revolutionize the economic ecosystem. He was among the first crypto users who integrated Shopify with Coinbase Commerce. Lütke agrees that he and Coinbase share a similar vision of providing opportunity to many, not just a few by implementing the concepts of decentralized finance and entrepreneurship, integral to Web 3.

Tobias Lütke will be an additional member of the existing 5-member board of directors which includes Coinbase CEO Brian Armstrong, Coinbase co-founder Fred Ehrsam, former Cisco CSO Kelly Kramer, and a16z founder Marc Andreessen.

Who is Tobias Lütke?

The German-born entrepreneur is something of a programming prodigy. Tobias started experimenting with codes and changing computer hardware when he was 11 or 12 years old. Building on his born expertise in programming, he soon began to become more involved in the open source community and worked on projects such as Liqyud, Ruby on Rails, and ActiveMerchant. Using his open source background to create a custom e-commerce platform, Tobias was selling snowboarding gear in 2004. He is now the co-founder and CEO of this global, cloud-based e-commerce company that serves small and medium enterprises. Although a programmer at heart and full-time CEO, the Canadian entrepreneur has tried his hand at blogging. You can find Tobias’ interesting insights and views on his blog where he talks about the many diseases, developments and opportunities in the world.

Coinbase is one of the world’s largest cryptocurrency exchanges working to build an efficient, accessible, and transparent crypto-based financial ecosystem. Created in 2012 by Brian Armstrong and Fred Ehrsam, it has nearly 73 million verified users, 185,000 ecosystem partners and 10,000 institutions in 100 countries. Coinbase has no physical headquarters but is fully operational remotely.

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