PayPal and Venmo Integrate Ethereum Name Service for Simplified Crypto Payments
U.S. payment processors PayPal and Venmo have introduced support for the Ethereum Name Service (ENS), allowing users to send cryptocurrency payments using ENS usernames, according to a press release from ENS Labs.
This integration simplifies the management of wallet addresses and reduces the risk of errors, the companies said in a statement.
Initially available to U.S. users, the new feature streamlines the way users interact with crypto on these platforms. Previously, users had to manually enter long wallet addresses or scan QR codes, which increased friction and the potential for mistakes when sending funds to the wrong address. Now, with ENS integration, users can simply input an ENS name directly into PayPal or Venmo, which will automatically retrieve and verify the corresponding wallet address.
“We are excited to bring ENS’ naming capabilities directly into the hands of millions of users through Venmo, PayPal Mobile, and PayPal Web,” said Khori Whittaker, Executive Director of ENS Labs. “As digital assets become more mainstream, our goal is to ensure managing those assets is intuitive and user-friendly.”
ENS has been actively enhancing the usability of its domain names. In February, the company partnered with web domain registrar GoDaddy to enable users to link their .com web addresses to their ENS (.eth) names, which are connected to Ethereum wallet addresses.
