Converting SQL Server varbinary to PostgreSQL Bytea

Converting SQL Server varbinary tp PostgreSQL bytea datatype can be achieved by using master.dbo.fn_varbintohexstr.
First two character need to be removed as Sql server add those character to make hexadecimal identifiable. Below is script used for datatype conversion:
SQL Server script:
select cast(cast(‘hello world’ as varbinary) as varchar(max))

select master.dbo.fn_varbintohexstr(cast(‘hello world’ as varbinary))

select substring( t.ConvertedText, 3, len(t.convertedText)) from (select 1 as ID) r
cross apply
(
select master.dbo.fn_varbintohexstr(cast(‘hello world’ as varbinary)) [ConvertedText]
)t

PostgreSQL script:
select encode(decode(‘68656c6c6f20776f726c64’, ‘hex’), ‘escape’)