John Greenwood, the "Father of the Pegged Currency," says he should stay away from stablecoins and increase the speed of banking transactions.

Odaily Planet Daily reports that John Greenwood, the "father of the linked exchange rate," advised staying away from stablecoins at a press conference in Hong Kong, saying they are essentially a stepping stone for fiat currencies to enter the crypto asset world. He personally opposes the promotion of crypto assets due to their instability, unreliability, and frequent use for illicit purposes. Rather than developing stablecoins, a better approach would be to build a domestic and international instant transfer system to speed up transactions within the banking system. (Lianhe Zaobao)