Ethereum Name Service (ENS) has announced that payment giants Paypal and Venmo have integrated support for ENS domains. This integration allows users to use Paypal and Venmo to transfer crypto assets to ENS addresses.
Paypal and Venmo Roll Out ENS Support
On Tuesday, ENS shared on social media platform X that both Paypal and Venmo now support ENS names. ENS operates as a blockchain-based naming protocol on Ethereum, providing a visual interface for accessing blockchain addresses, websites, and decentralized applications (dapps).
ENS essentially converts long, complex cryptocurrency addresses into simple, human-readable names. This makes it easier to transfer crypto assets and supports the storage of additional metadata and records. “We are excited to announce that [ENS domains] are now supported on [Paypal and Venmo],” the X account said.
ENS added:
This new feature brings the power of ENS to millions of people, making it easier and safer than ever to move crypto, starting in the United States.
The process involved with Paypal and Venmo is simple: users simply enter their ENS name when initiating a crypto transaction on these platforms, and the system seamlessly converts it into the corresponding wallet address. According to the team, this approach essentially eliminates the hassle of copying and pasting long addresses.
Furthermore, the newly launched “Address Book” feature allows users to save and quickly retrieve their frequently used ENS names and wallet addresses, thus speeding up the transfer process. Initially available in the United States, ENS has outlined plans to expand to other regions in the near future.
What do you think about Paypal and Venmo supporting ENS domains? Please share your thoughts and opinions on this topic in the comments section below.
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