[Lunch Briefing] PayPal and Venmo Support Ethereum Name Service… Simplifying Virtual Asset Remittances

The main virtual asset is Honjosae.

At 12:36 PM on the 11th, Bitcoin (BTC) was recorded at 76,749,000 won on Bithumb, down 0.49% from the previous day. Ethereum (ETH) rose 0.16% from the previous day to 3,172,000 won, Binance Coin (BNB) fell 0.64% to 694,500 won, Solana (SOL) fell 1.26% to 188,000 won, and Ripple (XRP) fell 1.23% to 720 won.



At the same time, on CoinMarketCap, BTC was trading at $56,881.38, up 0.39% from the previous day. ETH was trading at $2,350.96, up 0.25%, BNB was trading at $515.04, down 0.16%, SOL was trading at $133.86, up 0.46%, and XRP was trading at $0.5341, down 0.08%.

The total market capitalization of virtual assets recorded approximately 2 trillion dollars (approximately 2,679.2 trillion won), the same as the previous day. The fear and greed index of virtual asset data company Alternative.me rose 4 points from the previous day to 37 points, indicating a state of ‘fear.’

US payment platforms PayPal and Venmo are supporting the Ethereum Name Service (ENS). ENS converts complex Ethereum wallet addresses into readable domain names. PayPal and Venmo users will be able to send virtual assets to the appropriate wallet address by simply searching for the recipient’s ENS name. The service will be available to US users first.

“As crypto becomes more mainstream, we want to help manage it in a more intuitive and user-friendly way,” said Cory Whittaker, ENS Labs Managing Director. “With PayPal and Venmo, we can reach users who are less familiar with crypto and prefer web2 payment platforms,” said Marta Kura, ENS Labs’ Head of Business Development. “This will allow them to more easily interact with decentralized finance (DeFi) within the web2 environment they already trust.”

Reporter Kim Jeong-woo

woo@decenter.kr