According to a press release from ENS Labs, US payment processors PayPal and Venmo have added support for Ethereum name services.
This new integration simplifies wallet address management and reduces the risk of errors,
This feature will first be offered to US users to simplify their interactions with cryptocurrencies on these platforms. Previously, users had to manually enter long wallet addresses or scan QR codes, which created friction and increased the risk of sending funds to the wrong recipient With
#ENS , users can enter the ENS name directly into #PayPal or Venmo and
"We are excited to put ENS naming capabilities directly into the hands of millions of users through Venmo, PayPal Mobile and PayPal Web, said ENS Labs CEO Hori Whittaker,
"With the growing popularity of digital assets, our goal is to provide an intuitive and convenient way to manage these assets
ENS is working hard to make domain names more convenient. In February, the company announced a partnership with web domain registrar GoDaddy so you can link your . com web address to your ENS name (. eth) and, in turn, to your #BinanceBlockchainWeek wallet address.
Ethereum Name Service (ENS) Domains are different from traditional website domains in the Domain Name System (DNS); ENS domains are easier to remember than regular alphanumeric wallet addresses, and they can be assigned to an Ethereum wallet to facilitate the transfer of funds and assets. However, a regular web browser can't do much with an ENS domain. However, thanks to a new partnership between ENS and GoDaddy, the two domains are getting closer together. GoDaddy, a web domain registrar, has partnered with ENS.
This new integration is part of PayPal and Venmo's ongoing push to expand their presence in the cryptocurrency market.
"By partnering with PayPal and Venmo, we will be able to attract newcomers to the industry and those who prefer the familiar web2payment platform, added Marta Kula, Director of Business Development at ENS Labs.
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