ENS Labs’ recent partnership with PayPal and Venmo could significantly boost crypto payments adoption and help the sector reach its first billion cryptocurrency holders.

ENS, also known as the Web3 human-readable crypto address, has recently been integrated by payment giants Venmo and PayPal, the world’s most widely used payment acquirer, facilitating crypto transactions via ENS usernames.

According to Marta Cura, business development director at ENS Labs, this new integration could facilitate the widespread adoption of cryptocurrency payments.

Unifying Web2 and Web3 users will require blockchain solutions with real-world utility.

However, the adoption of crypto payments will also depend on adoption by traditional financial companies (TradFi).

ENS names replace complex 42-hexadecimal character Ethereum-based crypto addresses with simple nicknames such as “Thomas.eth,” simplifying transactions and reducing the risk of human error.

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