Cryptocurrency exchange Coinbase Global (COIN) has appointed Shopify (SHOP) chief executive officer (CEO) Tobi Lütke to its board of directors.
Coinbase said in a news release that Lütke brings experience as an entrepreneur, and as an early adopter of cryptocurrencies, including through Shopify's integration with Coinbase's crypto payment platform.
Coinbase added that Lütke will help as it looks to expand cryptocurrencies to more people and businesses globally. Lütke said in a written statement that Coinbase and Shopify share a “like-minded vision” of decentralized finance and entrepreneurship.
In 2020, Shopify joined Meta Platforms’ (FB) Diem Association that was working on a global digital currency, though media reports last week said that the Diem project was being shutdown and its assets sold.
Coinbase said Lütke’s appointment is still subject to formal board approval.
