Microsoft, in recent years, has accelerated its exploration of Web3 elements.
Details on the release timeline of Microsoft’s wallet remains unknown
Photo Credit: Reuters
Microsoft is starting to test deeper waters in-terms of Web3. The software giant is reportedly testing support for a crypto wallet on its Edge browser. This wallet has been built upon the Ethereum blockchain and it is said to be a part of Edge. As part of its functionality, this digital wallet could allow users to store and hold Ether tokens and other Ethereum-based cryptocurrencies in it. Microsoft, in recent years, has accelerated its exploration of Web3 elements like the metaverse and now this digital wallet.
The Windows-maker has reportedly rolled out a trial version of this wallet. The company has also said to have warned testers against putting in big amounts in this wallet for now since the feature is still under-development.
Screenshots of Microsoft's wallet test have emerged on social media. As per the screenshots, Microsoft's digital wallet appears to be non-custodial in nature. This means, users will be able to own their private keys as well as have full control of their funds.
Once released, the wallet on Edge is said to allow users to create single or even multiple accounts as per their requirement. The wallet could also include a built-in exchange feature, that would let people trade in ETH, DAI, UNI, USDC, and USDT, Bitcoin.com said in a report citing testers who are already running this wallet service.
The wallet is also expected to support Bitcoin, perhaps in a later stage of its development and release.
If and when this digital wallet rolls out for Edge users, it would look at Metamask as a major competitor.
Launched in 2016, Metamask is counted among the most popular Web3 wallet addons. It also works natively with Edge.
As of now, Microsoft has not made any official announcement about this wallet service.
After the collapse of the FTX crypto exchange in November last year, blockchain players began focussing on offering safer wallet ecosystems, especially with a non-custodial element.
In January this year, Binance also launched its cold wallet service called ‘Binance Mirror'.
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