Payment platforms PayPal and Venmo have integrated the Ethereum Name Service (ENS).
? We’re thrilled to announce that @ensdomains is now supported on @PayPal & @Venmo!
This new feature brings the power of ENS to millions, making crypto transfers easier and more secure than ever—starting in the USA.? pic.twitter.com/9hsrhRqEAp
— ens.eth (@ensdomains) September 10, 2024
Users of PayPal and Venmo apps can enter the recipient’s ENS domain directly into the search field when sending digital assets, automatically identifying wallets linked to the service.
This functionality will reduce the risk of errors in crypto transactions and simplify address management. Initially, it will be available to customers in the United States.
Prior to the integration, users had to enter, paste, or scan QR codes of external wallets to transfer funds.
“Collaboration with PayPal and Venmo allows us to reach both newcomers and those who prefer traditional Web2 platforms. The integration will ease their interaction with decentralized finance,” explained Marta Kura, Business Development Director at ENS Labs.
In May, the firm announced plans to expand the service to layer-2 protocols.
On August 21, the Base team launched the Basenames domain name system based on ENS infrastructure.
Earlier, the largest DEX, Uniswap, introduced uni.eth subdomains based on ENS.