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Shopify CEO Takes Interest in DeFi and Ethereum

Sun, 04/04/2021 - 10:47
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Alex Dovbnya
Shopify CEO Tobi Lutke is exploring DeFi and Ethereum in the latest sign of mainstream adoption
Shopify CEO Takes Interest in DeFi and Ethereum
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Shopify CEO Tobi Lutke has plunged down the Ethereum rabbit hole.

The boss of Canada’s most valuable public company recently tweeted about spending his whole morning learning about smart contracts and the ERC20 token standard:

Speaking of crypto though- I spent the morning dabbling with ETH Smart Contracts. Mainly to understand how ERC20 works better. Fascinating world.

Later, Lutke asked Twitter about commerce-related opportunities presented by decentralized finance.

Jill Carlson of Slow Ventures proposed integrating stablecoin payments and facilitating merchant fundraising via compliant token sales. Crypto investor David Iach further suggested enabling staking, which would allow buying goods with yield.  

Last week, Visa integrated Circle’s USDC stablecoin into its settlement network.      

Major Canadian Car Dealer to Accept Bitcoin

Crypto-esque growth

As reported by U.Today, Shopify partnered with CoinPayments to allow its merchants to get paid in crypto last May.

The stock of the “Canadian Amazon” is itself reminiscent of a cryptocurrency, soaring over 500 percent in less than two years.     

Last year, Shopify surpassed Royal Bank of Canada (RBC) to become the most valuable public company in the country.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at