Bloomberg Intelligence crypto market analyst Jamie Coutts predicts PayPal’s new PayPalUSD (PYUSD) stablecoin will have a huge impact on Ethereum (ETH).

Coutts says that there is massive growth potential for Ethereum even if just a small percentage of PayPal’s existing customer base adopts the stablecoin, which aims to keep a 1:1 peg to the US dollar and is built on Ethereum.