ENS incorporates PayPal and Venmo into payment system

PayPal and Venmo, major U.S. payment processors, have integrated Ethereum Name Service (ENS), enabling users to send cryptocurrency using ENS usernames. This update, announced by ENS Labs, seeks to improve the user experience for those transacting in digital currencies.

Previously, users had to manually input lengthy wallet addresses or scan QR codes, increasing the likelihood of errors. The integration now allows U.S. users to enter ENS names directly into PayPal or Venmo, simplifying the process by automatically retrieving the linked wallet address.

Khori Whittaker, Executive Director of ENS Labs, said, "We are excited to bring ENS’ naming capabilities directly into the hands of millions of users through Venmo, PayPal Mobile, and PayPal Web." He noted that as digital assets become more mainstream, the focus is on ensuring that managing them is both intuitive and user-friendly.

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ENS continues to enhance user functionality

ENS has been working to improve the usability of its domain names. Earlier this year, it partnered with domain registrar GoDaddy, allowing users to link .com web addresses they own to their ENS (.eth) name. This makes it easier to associate a web address with an Ethereum wallet.

The latest integration reflects PayPal and Venmo’s continued efforts to expand their crypto services. Earlier this year, PayPal introduced MoonPay, allowing users to purchase cryptocurrencies with debit and credit cards. The company also launched the PYUSD stablecoin, enabling transfers between PayPal and Venmo.

related reading：PayPal’s PYUSD Stablecoin: Surpassing Ethereum on Solana

ENS brings cryptocurrencies to mainstream platforms

Marta Cura, Director of Business Development at ENS Labs, highlighted the significance of this partnership in making cryptocurrency more accessible. She stated, "Working with PayPal and Venmo allows us to reach those who are new to the space and those who prefer the familiarity of Web2 payment platforms."

By integrating ENS with widely recognised payment systems, these companies aim to reduce the complexities often associated with digital currencies, making it easier for users to manage their assets within familiar environments.

While this move undoubtedly simplifies the crypto transaction process, concerns remain about whether such efforts can fully bridge the gap between mainstream adoption and the intricate nature of digital currencies. The integration, though beneficial, may not address all the hurdles facing widespread crypto usage.