PayPal and Venmo users in the US can now send cryptocurrency payments more easily, thanks to a new partnership with Ethereum Name Service (ENS).
ENS Labs recently announced that US-based users of these payment platforms can now use ENS usernames for transactions.
This feature simplifies the process of sending crypto by removing the need to manually input long wallet addresses or scan QR codes, which previously increased the chance of errors.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
What is Balancer in Crypto? Beginner Friendly BAL Explainer
Khori Whittaker, Executive Director of ENS Labs, emphasized the benefits of this innovation in a press release, saying:
We are excited to bring ENS’ naming capabilities directly into the hands of millions of users through Venmo, PayPal Mobile, and PayPal Web. As digital assets become more mainstream, our goal is to ensure managing those assets is intuitive and user-friendly.
Marta Cura, Director of Business Development at ENS Labs, explained that the partnership is focused on making crypto more accessible to a wider range of people. By integrating ENS with PayPal and Venmo, the goal is to reach newcomers to Web3 and users who are more comfortable with traditional payment systems.
The addition of ENS support is the latest step in PayPal and Venmo's ongoing expansion into the crypto market. In 2023, PayPal integrated its PYUSD stablecoin into Venmo, and more recently, it partnered with MoonPay to enable users to buy cryptocurrencies with debit and credit cards.
