Microsoft testing built-in digital asset wallet for Edge browser: report

Microsoft (NASDAQ: MSFT) is developing a non-custodial digital asset wallet for its Edge web browser. The wallet is built on Ethereum and is only available to a select group of users and will enable customers to store and manage their digital assets directly from their Edge browser.

First reported by Bleeping Computer, the new wallet is available to Microsoft Edge Dev Channel users and is part of a very limited test phase.

Newest in the gauntlet of questionable upcoming Microsoft Edge features, a crypto wallet 💸
Not really sure how to feel about this kind of thing being baked into the default browser, what are your thoughts?
More screenshots of the UI in the next tweet ➡️ pic.twitter.com/GAUPiZGLIY

— Albacore ☁️ (@thebookisclosed) March 17, 2023

While onboarding to test the wallet, Microsoft makes it clear that it’s custodial and “you are in complete control of your funds.” Edge browser will not have access to a user’s password or recovery key.

“As a tester, you will use your own funds. In the event of a loss of funds, Microsoft will not reimburse any loss. This is a confidential project, and no details should be shared externally,” warns Microsoft.

As with other non-custodial wallets, the Edge browser wallet requires users to generate their passwords and a 12-word recovery phrase in case they lose their passwords. It then generates an Ethereum address that users can share with others to receive funds. The wallet supports multiple Ethereum addresses.

Microsoft has partnered with ConsenSys, the Ethereum incubator, to enable a swap feature that supports Tether (NASDAQ: USDT), USDC, Uniswap, Ether, and Dai stablecoin.

Patent by @nChainGlobal

Go for it.

A licence fee for all M$ installations globally would be good… for us. https://t.co/8cl3E6vGrq

— Dr Craig S Wright (@Dr_CSWright) March 19, 2023

A spokesperson for the tech giant declined to offer insight on the wallet, telling Bleeping Computer, “At Microsoft, we regularly test new features to explore new experiences for our customers. We look forward to learning and collecting feedback from customers but have nothing further to share at this time.”

While the spokesperson didn’t make any commitments, the company made clear its intention to dive into the world of digital assets and non-fungible tokens (NFTs).

​”We encourage you to test our first Web3 wallet and provide candid feedback along the journey. As the first testers, you have the unique opportunity to shape our foray into cryptocurrencies and NFTs,” Microsoft told the select users of its wallet.

The Redmond-based company is betting big on the metaverse, with its FTC-blocked proposed acquisition of Activision Blizzard (NASDAQ: ATVI) being dubbed the biggest bet on the metaverse yet.

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