Shopify's CEO seems to have caught the crypto bug, and it could be a boon for adoption. Crypto’s march towards mainstream adoption takes another significant step forward as the CEO of an e-commerce giant is publicly pondering how to integrate his company with the decentralized finance (DeFi) ecosystem.
On Friday night, Shopify CEO Tobi Lutke posted a Twitter message asking the DeFi community what “role” Shopify could play in the growing financial vertical:
The inquiry drew hundreds of responses, including from multiple DeFi power players. Nansen’s Alex Svanevik mentioned stablecoin payments as well as using DeFi protocols to allow cash in Shopify accounts to earn yield, and likewise ConsenSys’ Corbin Page pointed to a hackathon project that deposited payments directly into yield-bearing protocols.
More complex suggestions centered on leveraging deposited funds for payments, real-time subscription fees, and using protocols like Alchemix to enable asset-backed loans for payments. While highly speculative in nature, Lutke’s musing do seem to be a sign that he’s caught the crypto bug. Earlier in the day, he posted that he’d been “dabbling” with smart contracts, referring to their functionality as “fascinating.” Besides the tech, the CEO also seems to be taken with DeFi’s open, permissionless ethos.
In a Tweet, he said that while it certainly won’t fit a purist’s definition of decentralization, one of Shopify’s goals was reducing barriers and friction in online retail — a spiritual cousin to Defi:
If a Defi-powered feature ever does make its way onto Shopify’s platform, it would likely immediately be one of the most important catalysts for adoption in DeFi’s short history. Shopify is the largest company in Canada, among the largest in the northern hemisphere, and counts over 3 million online stores as part of its platform.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 74.4% | 54 | $68 221.63 | 1.27% | 2.38% | $1 346 132 518 889 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 76.8% | 47 | $3 277.70 | 0.62% | -6.01% | $394 072 124 681 | ||
3 | USDT | Tether predictions | 93.6% | 1 | $1.000294 | 0.04% | -0.03% | $114 362 869 613 | ||
4 | SOL | Solana predictions | 64.4% | 70 | $186.46 | 3.76% | 10.05% | $86 651 629 563 | ||
5 | BNB | Binance Coin predictions | 79.2% | 42 | $588.60 | 1.71% | -0.56% | $85 893 706 101 | ||
6 | USDC | USD Coin predictions | 90.8% | 1 | $1.000218 | 0.01% | 0.02% | $34 165 068 764 | ||
7 | XRP | XRP predictions | 62.4% | 86 | $0.601322 | 0.08% | 1.60% | $33 650 519 304 | ||
8 | DOGE | Dogecoin predictions | 74% | 55 | $0.135778 | 4.40% | 6.72% | $19 726 589 838 | ||
9 | TON | Toncoin predictions | 83.6% | 31 | $6.74 | -0.27% | -8.09% | $16 954 582 289 | ||
10 | ADA | Cardano predictions | 75.2% | 49 | $0.417851 | 0.74% | -4.48% | $15 002 527 040 | ||
11 | TRX | TRON predictions | 86.4% | 18 | $0.137290 | 0.44% | 2.02% | $11 952 578 512 | ||
12 | AVAX | Avalanche predictions | 77.6% | 38 | $28.70 | 1.64% | 1.95% | $11 330 467 420 | ||
13 | STETH | Lido stETH predictions | 93.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
14 | SHIB | SHIBA INU predictions | 84.4% | 30 | $0.000017 | 2.35% | -3.05% | $10 173 129 198 | ||
15 | WTRX | Wrapped TRON predictions | 90.8% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2024 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.