Coinbase adds Shopify CEO to its board of directors

Cryptocurrency exchange Coinbase is adding Tobi Lütke, co-founder and CEO of ecommerce giant Shopify, to its board of directors, subject to final approval later this week.

Why it matters: With the widespread explosion of applications of cryptocurrencies and blockchain tech, it's no surprise to see Coinbase seek to add Lütke's expertise in online commerce and tech that's accessible even to solo entrepreneurs and small businesses.