Ethereum Name Service to Work With MoonPay to Build Fiat On-Ramp

The partnership will create the ability for people to purchase .eth domain names with fiat currency.

AccessTimeIconApr 20, 2023 at 1:00 p.m. UTC
Updated Apr 20, 2023 at 3:00 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The Ethereum Name Service (ENS), a digital identity protocol, said Thursday it is working with MoonPay, a Web3 payments firm, to create a fiat on-ramp for users interested in purchasing an .eth domain name.

Through this arrangement users can use MoonPay as a payment service to directly buy and register their .eth domain instead of having to first buy ether (ETH) and set up a crypto wallet. Setting up a crypto wallet can be complicated to those that are not tech savvy, but using a fiat currency on-ramp overcomes such hurdles.

ENS is a domain name protocol that runs on the Ethereum blockchain. It provides users with an easily readable name such as “xyz.eth” instead of the long or complex alphanumeric address that is tied to a crypto wallet, making it easier for users to send and receive crypto to those shortened addresses. The service is similar to the Web2 version of the Domain Name System (DNS), which creates internet name addresses such as “google.com” for websites to substitute for their numeric internet protocol (IP) addresses.

“The goal of the integration is to offer a solution that eliminates this barrier by allowing users to use payment options that they are used to such as Apple Pay and Google Pay,” said Nick Johnson, the founder and lead developer at ENS. “By making it as user friendly as possible, this partnership will not only boost mainstream adoption of decentralized financial apps but also Web3 as a whole.”

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Margaux Nijkerk

Margaux Nijkerk reports on the Ethereum protocol and L2s. A graduate of Johns Hopkins and Emory universities, she has a masters in International Affairs & Economics. She holds a small amount of ETH and other altcoins.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.