The integration allows Venmo and PayPal users to transfer cryptocurrency using simple ENS names, replacing long wallet addresses.
Venmo and PayPal users will now be able to transfer cryptocurrency using Ethereum Name Service (ENS) names. ENS Labs disclosed the integration on Sept. 10, which is expected it to reach more than 270 million users in the United States.
An ENS name can act as a nickname for a blockchain address. Instead of sending tokens using a long, complicated address made up of letters and numbers, users can register a name like “your name.eth” to transfer cryptocurrency.
According to ENS Labs, the new integration simplifies transfers between wallet addresses while reducing the risk of mistakes and lost funds.
