Paypal and Venmo Partner with Ethereum Name Service

ENS Labs announced on Tuesday that Paypal and Venmo have now integrated the Ethereum Name Service (ENS) into their payments systems.

ENS is a decentralized naming system that uses the Ethereum blockchain to give human-readable names to cryptocurrency addresses.

This integration allows users of Paypal and Venmo to enter the recipient’s ENS name directly into the search field when sending crypto, and the platform will automatically identify the wallet address associated with that ENS.

This feature will initially be available for users in the United States, according to the announcement.

According to ENS Labs, this new feature will reduce the risk of errors in crypto transactions on Paypal and Venmo and make it easier for users to manage their wallet addresses.