Shopify COO: Expect Surprising Progress in Our Crypto Implementation

2023-12-04 13:32:24

Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.Source: Adobe / boumenjapetPeople will be surprised by the fast progress being made with crypto implementations at e-commerce platform Shopify, according to a senior utive at the company.

Writing on social media platform X on Sunday, Kaz Najatian, Vice President of Product and Chief Operating Officer (COO) at Shopify, described the crypto-related work being done internally at the company as “some of our best work right now.”

“In a couple of years people are going to be surprised how we move so fast, but that’s because of the work being done right now,” the Shopify utive wrote.

The crypto work we are doing at Shopify is some of our best work right now.

In a couple of years people are going to be surprised how we move so fast, but that’s because of the work being done right now.

— Kaz Nejatian (@CanadaKaz) December 3, 2023

While specific details about the nature of Shopify’s crypto implementation were not provided in the post, the statement suggests a strategic commitment to leverage crypto and blockchain technology in one capacity or another within the platform’s eco.

The ecommerce giant’s proactive approach aligns with the growing intersection of traditional commerce and the rapidly evolving crypto landscape.

Shopify’s existing crypto implementations

Shopify has worked on crypto payment solutions for some time already, with for instance Solana (SOL) announcing in August this year that Solana Pay had been approved as an app integration on Shopify.

In May of last year, the crypto exchange and payments provider Crypto.com launched its Crypto.com Pay service to all merchants who use Shopify, enabling them to accepts purchases made with crypto.

Headquartered in Ottawa, Canada, Shopify is one of the largest e-commerce platform providers for online stores in the world.

In addition to e-commerce solutions, the company also offers point-of-sale solutions for physical retail locations.

As of the end of last year, Shopify reported that more than 2 million businesses in 175 countries used its platform.

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