PYUSD and PYUSD0: Understanding the Difference on Flow

PYUSD and PYUSD0 are both PayPal-backed stablecoins worth $1.00 USD, but they exist on different blockchains and are deployed through different mechanisms. Knowing the difference matters when withdrawing funds or managing your tokens in an external wallet.

PYUSD on Ethereum

PYUSD (PayPal USD) is the original PayPal stablecoin, issued directly by PayPal on the Ethereum blockchain. PYUSD is fully backed 1:1 to the US dollar and is the version you will find on most major cryptocurrency exchanges.

PYUSD contract address on Ethereum: 0x6c3ea90376685852bf6840e6049838285000770bedfcaba0e23a0e8

PYUSD0 on Flow

PYUSD0 is the Flow EVM (Ethereum Virtual Machine) version of PYUSD. PYUSD0 is a stablecoin worth $1.00, backed 1:1 by PYUSD, and deployed on the Flow blockchain through LayerZero. LayerZero is a cross-chain messaging infrastructure used by many major stablecoins and operates across 140 or more blockchains.

The "0" in PYUSD0 indicates that the token is part of LayerZero's OFT (Omnichain Fungible Token) program. PYUSD0 is pre-native: it is fully backed 1:1 by PYUSD but deployed via LayerZero rather than directly by PayPal. Both PYUSD and PYUSD0 are PayPal-backed.

PYUSD0 contract address on Flow EVM: 0x99aF3EeA856556646C98c8B9b2548Fe815240750

Peak Money operates on the Flow Network, which is why the platform uses PYUSD0 rather than PYUSD. PYUSD0 has the deepest liquidity and broadest support across the Flow ecosystem and is the canonical stablecoin on Flow.

Future Upgrade to Native PYUSD

When PayPal eventually deploys PYUSD natively on Flow, your PYUSD0 balance will automatically upgrade 1:1 to native PYUSD with no action needed on your part. The upgrade will happen in the background, and your balance will be preserved.

Helpful Resources

Frequently Asked Questions

Are PYUSD and PYUSD0 both backed by PayPal?

Yes, both PYUSD and PYUSD0 are backed by PayPal. PYUSD is issued directly by PayPal on Ethereum, and PYUSD0 is a bridged version of PYUSD on the Flow blockchain, backed 1:1 by PYUSD, which itself is backed 1:1 by the US dollar.

Why does my stablecoin show as PYUSD0 instead of PYUSD in Peak Money?

Your stablecoin appears as PYUSD0 in Peak Money because Peak Money operates on the Flow blockchain, where PYUSD0 is the canonical stablecoin. PYUSD0 is the Flow EVM version of PayPal's PYUSD, bridged to Flow. The two tokens represent the same underlying value and are both pegged 1:1 to the US dollar.

Can I send PYUSD0 from Peak Money to MetaMask?

Sending PYUSD0 from Peak Money to MetaMask is not recommended. MetaMask does not currently support Flow Cadence accounts, and sending funds to an unsupported address type will result in permanent loss of funds. Use Flow Wallet instead, as it is fully compatible with Flow-based assets including PYUSD0.