ENS Labs, the company behind the Ethereum Name Service (ENS) protocol, announced its integration with online payment platforms PayPal and Venmo.
According to reportedthe integration will allow users to use their ENS domains (e.g. criptonoticias.eth) to transfer cryptocurrencies through those platforms“There is no more need to copy and paste long addresses – just simple, easy-to-use transactions,” said ENS Labs.
As CriptoNoticias explained, ENS is the digital asset used for the governance of the eponymous protocol, which allows the traditional hexagesimal addresses of the ecosystem Ethereum be replaced by an easy-to-remember name. Allows you to register ‘.eth’ domains and addresses.
In the minutes following the announcement, the token’s price rose from $16.60 to $17.60, representing a 5% increase.
In the announcement, ENS Labs also clarified that there will be a new feature called “Address Book,” where the User will be able to save and remember their ENS names and wallet addresses for “even faster” transfers.
Initially, the feature will be available to users in the United States but, the goal is to expand to more regions.
In this regard, Marta Cura, Business Development Director at ENS Labs, highlighted: “Working with PayPal and Venmo allows us to reach those who are new to the space and those who prefer the familiarity of Web2 payment platforms.”