PayPal and Venmo Now Support ENS Usernames for Sending Crypto Payments

PayPal and Venmo have launched a new feature that will allow users to send cryptocurrency payments using Ethereum Name Service (ENS) usernames.

PayPal and Venmo have announced a new integration with the Ethereum Name Service (ENS), allowing users to send cryptocurrency payments using ENS usernames.

This feature, initially available only to users in the United States, aims to simplify the management of wallet addresses and reduce the risk of transaction errors.

“We’re thrilled to announce that @ensdomains is now supported on @PayPal & @Venmo!” the ENS team tweeted.

“This new feature brings the power of ENS to millions, making crypto transfers easier and more secure than ever—starting in the USA.”

ENS support on these payment platforms will enable users to enter an ENS username instead of having to input lengthy wallet addresses or scan QR codes to complete a transaction. This not only integrates cryptocurrency into these platforms but also helps mitigate the risk of sending funds to the wrong recipient, a common issue with traditional alphanumeric addresses.

PayPal Continues Adding New Tools and Benefits

This move marks a major step in the expansion of both platforms. Previously, PayPal had expanded its cryptocurrency offerings through a partnership with MoonPay, allowing users to buy cryptocurrencies using debit and credit cards.

Moreover, PayPal launched its PYUSD stablecoin on Venmo, enabling seamless stablecoin transfers between the two platforms.

Khori Whittaker, Executive Director of ENS Labs, noted that integrating ENS naming capabilities into such widely used platforms will help make managing digital assets more intuitive and accessible for users.

This integration will not only onboard new users but also help those accustomed to traditional payment platforms navigate the crypto industry more easily, he added.

ENS Labs has been working to enhance the usability of its domains. In February, the company announced a collaboration with GoDaddy to allow users to link their .com web addresses with their ENS names (.eth), further facilitating the use of Ethereum wallet addresses.

The above is the detailed content of PayPal and Venmo Now Support ENS Usernames for Sending Crypto Payments. For more information, please follow other related articles on the PHP Chinese website!