CJ - Cryptocurrency Enthusiast
Microsoft is reportedly working on a non-custodial crypto wallet for its Edge web browser, according to Bleeping Computer. The tech giant's move to develop a crypto wallet comes as digital currencies continue to gain wider adoption and mainstream acceptance. This new development is set to bolster Microsoft's foray into the crypto market investment and may offer Edge users an added layer of security when transacting with digital assets.
The news outlet said the wallet was tested and was first spotted by software researcher and reverse engineer, Albacore. Albacore tweeted screenshots of the wallet and confirmed that it is a non-custodial wallet, which means users will have complete control of their funds, without Microsoft accessing their password and recovery key.
According to Albacore, the wallet is embedded in Edge, making it easy to use without having to install any extensions. As part of a limited test phase, the wallet is most likely only available to Microsoft Edge Dev Channel users. Albacore also warned that Microsoft will not reimburse any loss in the event of loss of funds as this is a confidential project, and no details should be shared externally.
Moreover, the wallet is expected to be integrated with Coinbase and Moonpay, and support Non-Fungible Tokens and crypto to crypto swaps. Bleeping Computer reported that Microsoft has also partnered with Ethereum development studio Consensys to offer a built-in crypto swap feature between Ether (ETH), Uniswap, the Dai stablecoin, USD coin, and Tether.
However, Microsoft did not confirm the news, stating only that it regularly tests new features for its customers. A Microsoft spokesperson told Bleeping Computer that the company looks forward to learning and collecting feedback from customers but has nothing further to share at this time.
This move by Microsoft puts it in direct competition with rival web browsers Opera and Brave, which already offer built-in wallets and other crypto features. Albacore said it was probable that Microsoft would launch the wallet as it rarely cancels projects that land in publicly accessible versions of its products. With the growing acceptance of crypto assets, it would not come as a surprise if Microsoft decides to launch the crypto wallet officially.