Episode 3 of Ms. Marvel, “Destined”, provided an interesting backstory for the bangle that has been at the center of all of Kamala’s adventures thus far. In the opening scene of the episode, a flashback to the early 1940s shows how the Clandestine, specifically Kamala’s great-grandmother, Aisha, came to be in possession of the bangle. It’s a very informative scene filled with details, including one that ties Ms. Marvel to Shang-Chi and The Legend of The Ten Rings.
At around the 3:09 mark of the episode, as the Clandestine are discovered at the underground vault by British soldiers, an overhead shot established that this vault seemingly belonged to Wenwu’s Ten Rings as the organization’s symbol is clearly seen carved into the ground.
As established in Shang-Chi and The Legend of The Ten Rings, Wenwu existed roughly one thousand years before the MCU’s present-day and conquered most of Asia, so there’s no reason to believe he couldn’t have made his way to India during that time. Whether or not the blue alien in possession of the bangle came to the vault before or after it was abandoned by the Ten Rings and what else he may have had with him is relevant both to Ms. Marvel and Shang-Chi.
The story of how exactly Wenwu came into possession of the Ten Rings is left intentionally vague, seemingly meant to set up the uncertainty of who or what is being hailed by the rings in the mid-credit scene to Shang-Chi and The Legend of The Ten Rings. Could Kamala’s bangle be tied to Shang-Chi’s ten rings? Could this be the “tomb” where Wenwu originally found them? Both artifacts certainly seem alien in nature and grant their users extraordinary power.
Unfortunately, for now, it seems like fans are left with more questions than answers. The logo could be nothing more than an Easter egg that fits so well given the long lives of both Wenwu and the Clandestine. However, it’s equally possible that its presence in Ms. Marvel hints at a larger mystery that might bring Kamala into Shang-Chi’s world before too long.