ENS Labs, the main developer company behind the Ethereum Name Service (ENS) domain name protocol, has integrated its solution into giant payment platforms PayPal and Venmo, the company announced on Tuesday.
The news could indicate a renewed interest from traditional payment platforms in cryptocurrencies and blockchain technologies.
According to a press release shared with CoinDesk, users can now use their ENS name when transferring crypto on those platforms, helping them reduce the risk of their assets being transferred to the wrong crypto addresses. The integration will first be available to users in the US
ENS offers Ethereum users a name, such as ‘xyz.eth’, in place of the long alphanumeric blockchain address associated with their crypto wallets, with the aim of making the user experience of sending cryptocurrencies more seamless.
The integration allows PayPal and Venmo users to enter a user’s ENS address when transferring crypto, and both payment platforms can identify the wallet address associated with the ENS name.
“We are excited to bring ENS naming capabilities directly into the hands of millions of users, via Venmo, PayPal Mobile and PayPal Web,” said Khori Whittaker, executive director of ENS Labs, in the press release. “As the world of digital assets becomes more mainstream, our goal is to ensure that managing those assets is as intuitive and user-friendly as possible.”
Read more: Ethereum-based domain protocol ENS is looking for its own L2, possibly with ZK rollups