Group 1 - Morgan Stanley has appointed Kara Kennedy as the new co-head of its blockchain division Kinexys, alongside Naveen Mallela [1] - Kara Kennedy will focus on Kinexys' digital asset business and asset tokenization, while Naveen Mallela will continue to lead payment-related operations [1] - The appointment comes as the U.S. has passed significant stablecoin legislation, prompting global banks and multinational companies to ramp up blockchain initiatives [1] Group 2 - Morgan Stanley is piloting its JPMD project, a type of stablecoin launched on Coinbase's public blockchain Base, designed as a digital representation of commercial bank deposits [2] - JPMD will offer clients 24-hour settlement services and interest payments, and is classified as a "permissioned token," available only to institutional clients [2] - The bank emphasizes that the advantage of launching a deposit token instead of a stablecoin is to provide a faster and more convenient way for institutional clients to manage funds while maintaining close ties to the traditional banking system [2]