Dow Jones Top Financial Services Headlines at 11 AM ET: Stablecoins Fall Short as Cornerstone of Monetary System, Central Banks Say | HDB ...

Stablecoins Fall Short as Cornerstone of Monetary System, Central Banks SayCrypto assets shouldn't be the mainstay of the future monetary system, a group representing the world's top central banks said.----HDB Financial Starts Taking Orders for Nearly $1.5 Billion IPOOne of India's largest non-banking financial companies has begun testing investor appetite for its nearly $1.5 billion initial public offering, amid a renewed risk-on sentiment in global equity markets.----The Big Loser From the 'Genius Act' Is $156 Billion Crypto Giant TetherA bill laying out rules for stablecoins would force issuers like Tether to be audited and end risky practices.----Banca Monte Dei Paschi Gets ECB Approval for Mediobanca BidThe European Central Bank has given the green light to MDP's direct acquisition of a controlling shareholding in investment bank Mediobanca.----Former Swiss National Bank Chair Named Adviser for Asset Manager Muzinich & CoThe appointment comes after Thomas Jordan left Switzerland's central bank last year. The company aims to combine in-house policy insight with credit expertise.----Financial Services Roundup: Market TalkFind insight on Mapfre, European banks and more in the latest Market Talks covering financial services..----Spain Blocks Legal Merger of BBVA and Sabadell for Up to Five YearsThe Spanish government said it would approve BBVA's hostile takeover of Banco de Sabadell on condition that the banks temporarily be managed independently and kept legally separate.----These Small Conservative Law Firms Are Raking In BusinessTrump ties help power some small firms' ascent as larger competitors come under fire.----Xero to Buy Melio for Initial $2.5 Billion in U.S. Growth PlayThe Australia-listed accounting-software provider Xero will partly fund the largest acquisition in its 19-year history with a $1.2 billion institutional placement.----Big Banks, Worried About Being Trump's Next Target, Race to Appease RepublicansTexas and Oklahoma have banned some banks from state contracts, saying they discriminate against the gun and fossil-fuel industries.----New Secondary Fund Aims to Capitalize on Venture's Liquidity CrunchScenic Management's $150 million fund doubles down on firm's strategy of acquiring startup shares from VC firms and employees.----How Visa and Mastercard Can Survive the Stablecoin ThreatStablecoins' quickest path to consumer wallets may be working with today's players.