Coinbase Canada CEO Lucas Matheson Joins Opendoor as President

URGENT UPDATE: Lucas Matheson, the CEO of Coinbase Canada, is set to leave the crypto exchange this week to join the San Francisco-based real estate technology firm Opendoor as its new president. This move marks a significant shift in leadership for Opendoor, which has been actively recruiting former Shopify alumni to revitalize its operations.

Matheson will oversee critical functions including corporate development, financial planning, and the exploration of strategic initiatives involving blockchain technology aimed at transforming homeownership. “Real estate is one of the last major asset classes that hasn’t been touched by the financial innovation happening everywhere else,” Matheson stated. “Opendoor has already proven you can reimagine how people buy and sell homes. I’m here to help execute on what’s next.”

During his three-year tenure at Coinbase Canada, Matheson made headlines by securing the first international crypto exchange restricted dealer license in the country. He referred to his time at Coinbase as “an opportunity of a lifetime” in an X post, expressing gratitude to his team and Canadian regulators who have embraced blockchain’s potential.

Kaz Nejatian, Opendoor’s CEO and a former Shopify executive, has actively recruited Matheson and other Shopify veterans to strengthen his leadership team. Nejatian remarked, “I had the opportunity to work with Kaz at Shopify and couldn’t imagine a better leader to bring Opendoor back to founder mode.”

The leadership reshuffle comes just weeks after Nejatian took the reins at Opendoor, following a period of tumultuous trading driven by retail investors. He has prioritized direct communication with investors, opting to forgo traditional external relations agencies.

Matheson, who previously served as Shopify’s senior director of operations, led the company’s mergers and acquisitions, financial planning, and strategic expansion initiatives. He is not alone in this transition; other notable Shopify alumni, including Fahd Ananta and Giang LeGrice, have also joined Opendoor under Nejatian’s direction.

Nejatian emphasized urgency in their mission, saying, “Every day we don’t make real progress is a day we don’t make homeownership better. We’re not going to waste days.” The company is already contemplating the establishment of an office in Toronto, further expanding its footprint in Canada.

As Matheson steps into his new role, attention will be focused on how he and Nejatian plan to innovate in the real estate space. The implications of this leadership change could redefine home-buying processes, leveraging blockchain technology in ways previously unexplored.

Stay tuned for more updates as this story develops.