Illustration: Sarah Grillo/Axios
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.
- Shopify has also enabled Bitcoin payments as far back as late 2013, subsequently partnering with Coinbase in mid-2014.
Details: Lütke will join on the board Coinbase co-founders Brian Armstrong and Fred Ehrsam, Union Square Ventures' Fred Wilson, venture capitalist Katie Haun, Andreessen Horowitz's Marc Andreessen, DoorDash TK Gokul Rajaram, and former Cisco CFO Kelly A. Kramer.