ERC20 → ERC20

Swap PYUSD to USDE

Exchange PYUSD on Ethereum for USDE on Ethereum. Both assets reference USD, but they are separate tokens with different designs and liquidity. A quote can return more or less than one USDE per PYUSD.

PayPal USD (ERC20) to Ethena USDe (ERC20)

You send: PayPal USD (ERC20)PYUSD · ERC20
You receive: Ethena USDe (ERC20)USDE · ERC20

Quote checked on 2026-10-09 with 130.23975 PYUSD. Enter your amount to check current availability.

Address and network checks

Use the order’s Ethereum deposit address for PYUSD, and your own Ethereum receiving address for USDE. Keep the refund address on Ethereum; the payout address is not automatically a valid refund destination.

Sending PYUSD

Choose Ethereum mainnet in the wallet. Base, Arbitrum and OP Mainnet use separate balances even when the account address looks identical. Select the PYUSD network supported by your receiving wallet or service. A PayPal account identifier is not a blockchain receiving address for the provider’s on-chain payout.

For a standard self-custody transfer on Ethereum, allow for network fees in ETH, separately from your PYUSD balance. Wallet sponsorship and exchange withdrawal charges can differ; check the sending wallet’s final fee.

Receiving USDE

Choose Ethereum mainnet in the wallet. Base, Arbitrum and OP Mainnet use separate balances even when the account address looks identical. USDe and staked sUSDe are different tokens. This entry accepts USDe on Ethereum; neither a staking receipt nor a dollar-denominated balance elsewhere replaces that token. This listed USDE/ERC20 option has no separate memo field. If your destination requires additional instructions that this form cannot supply, choose another compatible destination before creating an order.

Refund address for this pair

Enter a refund address that accepts PYUSD on ERC20. The refund is sent in PYUSD on ERC20; verify that your refund wallet supports this exact asset and network.

Swap the other direction: USDE to PYUSD

CROSS-CHAIN EXCHANGE

Make your move

Wallet to wallet

Provider privacy rating

ⓘ

You sendERC20

Min. 5.20959 · Max. 1,627,996.78267177PayPal USD (ERC20)

You receiveERC20

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Connecting to providers…Ethena USDe (ERC20)

Recipient address USDE

Timing depends on the pair and provider ↗

INDEPENDENT EXCHANGE PROVIDERSConnecting…

SENDING ASSET

PayPal USD on Ethereum

PYUSD is a dollar-referenced stablecoin issued by Paxos for PayPal. Tornado Swap lists separate Ethereum and Solana network options for this token.

Read the PYUSD network guide →

RECEIVING ASSET

Ethena USDe on Ethereum

USDe is Ethena’s synthetic dollar, whose design uses collateral and hedging. It has a different mechanism from a conventional reserve-backed stablecoin.

Read the USDE network guide →

About this PYUSD / USDE route

Can I swap PYUSD on ERC20 to USDE on ERC20?

Both assets are listed in our coin directory. Enter your amount to request a live quote for this exact direction and network combination. A swap can proceed only when a provider returns a usable quote; liquidity, limits and rate types can change.

Which network fee applies when sending PYUSD?

What should I check before receiving USDE on Ethereum?

USDe and staked sUSDe are different tokens. This entry accepts USDe on Ethereum; neither a staking receipt nor a dollar-denominated balance elsewhere replaces that token. This listed USDE/ERC20 option has no separate memo field. If your destination requires additional instructions that this form cannot supply, choose another compatible destination before creating an order.

How much USDE will I get for PYUSD?

Enter your PYUSD amount to see an approximate receive amount. Click Find the best route to compare providers. Floating rates can change before conversion; fixed quotes follow the selected provider’s terms.

Does a confirmed PYUSD deposit mean my USDE has arrived?

No. Deposit confirmation on Ethereum, provider processing and payout on Ethereum are separate steps. Use Track swap to see the order status, then check the USDE balance on the receiving network. A live quote or historical route check does not guarantee completion time.