PayPal and Venmo To Offer Support for Ethereum Name Service (ENS) Starting With Users in the US
Two prominent payment platforms are offering their support for Ethereum Name Service (ENS) domains.
In a new thread on the social media platform X, payment giants PayPal and Venmo are now supporting the ENS domain naming service, which allows users to forgo having to use complicated crypto wallet addresses and instead adopt a representative username.
“How does it work? Simply enter your ENS name when sending crypto on PayPal or Venmo, and the platform will automatically resolve it to the correct wallet address. No more copying and pasting long addresses – just seamless, user-friendly transactions.”
According to the service, there will also be a new address book feature that allows users to save and recall the ENS domains they interact with the most.
“In addition to the ENS integration, PayPal and Venmo users will now have access to a new Address Book feature designed to enhance the crypto transfer experience.
Traditionally, transferring crypto required manually entering or pasting a wallet address or scanning a QR code. With the Address Book, users can save and recall recently used addresses, and store wallet addresses they frequently interact with, all in one place.”
ENS launched in 2017 on the Ethereum (ETH) blockchain as a means of offering decentralizing domain naming services.
According to crypto analytics platform Messari, the service works by converting cryptographic strings of letters and numbers into easily readable names.
“ENS addresses the confusion of having to remember a cryptographic public key and reduces the chances that this address can be entered incorrectly. Instead, ENS allows crypto users to represent their cryptographic address with a memorable, human-readable words or phrases.”
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