PayPal and Venmo Integrate ENS Names Service to Simplify Crypto Transactions

ENS Labs, the organization responsible for the Ethereum Name Service (ENS), has announced integration with PayPal and Venmo.

ENS Labs, the organization behind the Ethereum Name Service (ENS), has announced a major integration with PayPal and Venmo. This move will allow users of these popular payment platforms to utilize their ENS names when transferring cryptocurrency.

The feature, which will initially be available in the United States, aims to simplify the process of managing wallet addresses and reduce the likelihood of errors during transactions, especially for those who are less familiar with cryptocurrency.

Previously, users had to manually enter or scan external wallet addresses to transfer funds on PayPal and Venmo, which could increase the risk of mistakes. This step is now eliminated with the integration of ENS names. Users can simply enter the recipient's ENS name in the search field, and the associated wallet address will be automatically recognized by the platform.

“We are thrilled to bring ENS’ naming capabilities directly into the hands of millions of users, through Venmo, PayPal Mobile, and PayPal Web,” said Khori Whittaker, Executive Director of ENS Labs.

“As the world of digital assets becomes more mainstream, our goal is to ensure managing those assets is as intuitive and user-friendly as possible. ENS, much like PayPal and Venmo, transforms complex wallet addresses to human-readable names for users to transact securely and confidently.”

ENS Names Saved Automatically

Moreover, PayPal and Venmo will save ENS names in their address books, which will streamline future transactions. This feature builds upon the platforms' existing capabilities for handling internal crypto transactions, adding the convenience of recalling saved external contacts for cryptocurrency transfers.

“Working with PayPal and Venmo enables us to reach those who are new to the space and prefer the familiarity of Web2 payment platforms,” said Marta Cura, Director of Business Development at ENS Labs.

“By bringing ENS to platforms they already know and trust, we’re making it easier for them to interact with decentralized finance within a traditional Web2 environment.”