John Greenwood, renowned as the 'Father of the Linked Exchange Rate,' has advised against the use of stablecoins, citing their instability and potential for misuse. Speaking at a press conference in Hong Kong on October 22, Greenwood described stablecoins as merely transitional tools for fiat currency entering the crypto space. He emphasized the need for caution in promoting crypto assets due to their inherent risks. Instead, Greenwood proposed the development of instant domestic and international payment systems to enhance the speed of banking transactions. He argued that improving traditional banking infrastructure could offer a more reliable and efficient alternative to the current reliance on crypto assets.