First Digital USD vs PayPal USD
First Digital USD (FDUSD) and PayPal USD (PYUSD) both sit in the stablecoins category, so they compete for the same slot in a portfolio. Both launched in 2023. First Digital USD uses — (token on Ethereum and BNB Chain) and PayPal USD uses — (token on Ethereum and Solana). This page compares what can actually be verified about each protocol — nobody can tell you which will be worth more, and this page does not try to.
Cryptocurrencies are a highly volatile asset class without the protections of regulated funds: you can lose your entire investment. This comparison is educational content about the technical characteristics of two protocols, not a buy recommendation or a price forecast.
Head to head
Verifiable data for each protocol. Price and performance are deliberately left out: they change daily and cannot be derived from technical specs.
| First Digital USD | PayPal USD | |
|---|---|---|
| Symbol | FDUSD | PYUSD |
| Launched | 2023 | 2023 |
| Consensus | — (token on Ethereum and BNB Chain) | — (token on Ethereum and Solana) |
| Max supply | ∞ | ∞ |
| Category | Stablecoins | Stablecoins |
This table does not say which one is "better". It says how they differ, which is the only thing that can be stated without guessing.
First Digital USD
FDUSDA stablecoin issued from Hong Kong and backed by cash and equivalents. It gained volume quickly after becoming a reference trading pair on major exchanges.
PayPal USD
PYUSDThe stablecoin issued by PayPal, backed by dollars and US Treasuries. It was the first from a large mainstream payments company.
Frequently asked questions
What is the difference between First Digital USD and PayPal USD?+
First Digital USD (FDUSD) launched in 2023, uses — (token on Ethereum and BNB Chain) and has a maximum supply of ∞. PayPal USD (PYUSD) launched in 2023, uses — (token on Ethereum and Solana) and has a maximum supply of ∞. Beyond the numbers, they were built for different purposes — see the description of each below.
Which one will be worth more?+
Nobody knows, and anyone telling you otherwise is guessing. Crypto prices depend on adoption, regulation, liquidity and sentiment, none of which can be forecast from a protocol's specs. This page deliberately compares only what is verifiable today.
Which has the scarcer supply?+
Neither has a hard cap on issuance (∞ and ∞). That is not automatically bad: many protocols use ongoing issuance to pay for network security, but it does mean supply is not fixed.
Do they use the same technology?+
No: First Digital USD uses — (token on Ethereum and BNB Chain) and PayPal USD uses — (token on Ethereum and Solana). The consensus mechanism affects energy use, how the network is secured and how new coins enter circulation.
Should I hold both?+
That is a question about your risk tolerance, not about these two protocols. Crypto is a volatile asset class where you can lose your entire investment, and holding two coins in the same category adds far less diversification than it looks — they tend to move together. This is educational content, not a recommendation.