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.
ENS Integration with PayPal and Venmo
According to ENS Labs, PayPal and Venmo have implemented support for the Ethereum Name Service (ENS), enabling users to send cryptocurrency payments using ENS usernames. This new feature simplifies wallet address management and reduces error risks.
Benefits for Users
Initially available to U.S. users, the new feature streamlines interactions with crypto on these platforms. Previously, users had to manually enter long wallet addresses or scan QR codes, increasing the potential for mistakes when sending funds to incorrect addresses. 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.
Ongoing ENS Enhancements
ENS has been actively enhancing the usability of its domain names. In February, the company partnered with web domain registrar GoDaddy, allowing users to link their .com web addresses to their ENS (.eth) names, which are connected to Ethereum wallet addresses.
The integration of ENS support into PayPal and Venmo marks a significant step in simplifying and securing cryptocurrency payments for users.
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