Sebastian Sinclair

Microsoft is reportedly working on an Ethereum-based Web3 wallet for its flagship browser, allowing users to send and receive digital assets and NFTs.&nbsp;



The wallet is currently in a limited testing phase and is not yet available to the public, IT media outlet <a href="https://www.bleepingcomputer.com/news/microsoft/microsoft-is-testing-a-built-in-crypto-wallet-in-microsoft-edge/" target="_blank" rel="noreferrer noopener">Bleeping Computer</a> reported Friday.



First reported by Microsoft sleuth <a href="https://twitter.com/thebookisclosed/status/1636759487829917698?s=20" target="_blank" rel="noreferrer noopener">Albacore</a>, who shared screenshots of the wallet on Twitter, Microsoft is asking “testers” via its Edge browser to put up their own assets.



“We encourage you to test our first Web3 wallet and provide candid feedback along the journey,” Microsoft said in one of the <a href="https://twitter.com/thebookisclosed/status/1636759487829917698/photo/2" target="_blank" rel="noreferrer noopener">screenshots</a>. “As the first testers, you have the unique opportunity to shape our foray into cryptocurrencies and NFTs.”



The wallet is non-custodial, meaning users are in control of their funds and the tech giant will not have access to their passwords or recovery keys. The wallet generates an Ethereum address that allows users to receive funds through the Ethereum network.&nbsp;



Users can also manage multiple Ethereum accounts and choose between the built-in Edge wallet or an extension.



Microsoft has partnered with Consensys to make available a <a href="https://twitter.com/thebookisclosed/status/1636761695216451588/photo/3" target="_blank" rel="noreferrer noopener">swap feature</a> supporting ETH, DAI, UNI, USDC, and USDT, according to Bleeping Computer.&nbsp;



Microsoft and Consensys did not immediately respond to requests for comment.



It remains to be seen if Microsoft will add support for other digital assets in the future.



According to Albacore, the wallet may launch soon.



“Enabling the crypto wallet ended up being less complex than I anticipated, which is also why I think that a launch might not be far away,” he told Blockworks.



According to the <a href="https://twitter.com/thebookisclosed/status/1636759748207845378/photo/3" target="_blank" rel="noreferrer noopener">screenshots</a>, the beta version of the wallet also features a news section to keep track of industry developments, which includes the ability to connect to decentralized apps.



Simon Kertonegoro, who previously helped usher in the implementation of a collaborative program between Microsoft and Enjin known as Azure Heroes, told Blockworks the tech giant’s Web3 wallet was a “savvy play” as it sought to “gain an upper hand” against rival Google Chrome.



“This would be amazing for us as users too, we&#8217;ll no longer need to input our credit card information every time we make a payment,” the founder of MyMetaverse said.



While the Edge crypto wallet is still in the testing phase, it could be a significant development for Microsoft, as it allows users to easily send and receive crypto without installing additional extensions or apps.&nbsp;



The move signals a pivot from its previous Web3 endeavors; Microsoft <a href="https://blockworks.co/news/microsoft-culls-metaverse-team">axed its metaverse unit</a> in February, just four months after it had created a team tasked with building industrial networks.



Jane Ma, co-founder of zkLend, a layer-2 money-market protocol built on StarkNet, told Blockworks the emergence of Web3 technologies has spurred a growing trend of Web2 infrastructure companies looking to explore ways to integrate these decentralized solutions into their platforms.



“Microsoft&#8217;s prototype crypto wallet for its Edge browser is a prime example of this trend, as it aims to simplify the onboarding process for new users,” Ma said. “With a massive user base of over 200 million, Microsoft Edge&#8217;s approach of providing a ready-made, packaged solution within its browser would break down technical barriers,” she said.



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browser

Microsoft Edge Testing Built-In Ethereum Crypto Wallet, Screenshots Show

Casey Wagner

Macauley Peterson

<div id="highlights-block_62582b51dbc1c" class="highlights">
 <ul>
 <li>The integrated noncustodial crypto wallet supports Bitcoin, Ethereum, Solana, Polygon, Celo, StarkEx, IXO, Ronin and Nervos</li>
 <li>Opera had 2.81% of the global browser market share, according to StatCounter</li>
 </ul>
 
</div>



As demand for DeFi exposure continues to expand, native Web3 web browser and wallet provider Opera announced support for Apple’s iOS today. That puts the browser wallet on all major desktop and mobile platforms. Along with integration of blockchain ecosystems, including Solana, Bitcoin, Polygon and StarkEx, earlier this month, the company is making a strong play for mainstream adoption of wallet software.



The Norway-based company boasts “tens of millions of users,” according to a <a href="https://www.prnewswire.com/news-releases/opera-takes-a-giant-leap-into-web3-integrates-solana-polygon-starkex-and-others-301513688.html" target="_blank" rel="noreferrer noopener">press release</a>, who can now access decentralized apps and other services across nine blockchain ecosystems on Mac, Windows, Android, and now, iOS.



“The Opera Crypto Browser Project was built to simplify the Web3 user experience that has often been bewildering for mainstream users,” Jorgen Arnesen, Opera’s executive vice president of mobile, said.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">“Opera believes Web3 has to be easy to use in order to reach its full potential and a mass adoption.”</blockquote>



The integration announcement comes as a slew of DeFi (decentralized finance) wallets have entered the space in recent months. Cryptocurrency investors and users who want to engage with DeFi need a noncustodial wallet, such as Opera’s product, to store their assets.&nbsp;



Other browser-based noncustodial wallets have emerged in the past year, such as Phantom, launched in April 2021, which hit <a href="https://cms.blockworks.co/crypto-wallet-raises-109-million/" target="_blank" rel="noreferrer noopener">$1.2 billion in valuation</a> earlier this year when its $102 million Series B raise closed. 



XDEFI wallet launched in October 2021 after raising $6 million in a Series A funding round, led by Mechanism Capital. It is a multichain wallet with a web browser extension, similar to Metamask, the leading crypto wallet extension which recently touted having <a href="https://cms.blockworks.co/consensys-plans-to-redesign-metamask-and-hire-600-new-employees/" target="_blank" rel="noreferrer noopener">over 30 million active users</a>.



Opera had 2.81% of the global browser market share, <a href="https://gs.statcounter.com/browser-market-share/desktop/worldwide" target="_blank" rel="noreferrer noopener">according to StatCounter</a>, and the company <a href="https://press.opera.com/2021/03/16/allen-hu-new-opera-evp-dify/" target="_blank" rel="noreferrer noopener">said in March</a> that it has 380 million monthly active users.



The company has been making, what it calls, a “directional shift” toward markets with higher average revenue per user, <a href="https://investor.opera.com/news-releases/news-release-details/opera-reports-fourth-quarter-and-full-year-2021-results" target="_blank" rel="noreferrer noopener">according to</a> its fourth quarter 2021 financial report, but continues to focus on emerging markets where its market share has been historically higher. For instance, <a href="https://gs.statcounter.com/browser-market-share/mobile/africa" target="_blank" rel="noreferrer noopener">data from StatCounter</a> shows Opera edging out Apple’s Safari browser on mobile devices in Africa last month, with about 13% of the market, making it second only to Google’s Chrome browser. The mobile version of Opera even takes the top spot <a href="https://gs.statcounter.com/browser-market-share/mobile/nigeria" target="_blank" rel="noreferrer noopener">in Nigeria</a> — Africa’s largest economy — at 47% market share.



The browser wallet strategy is to remain chain-agnostic and to expand support for additional networks and layer-2 scaling options.



“Ultimately, Web3 is on its way to becoming a mainstream web technology and users won’t need to know they’re interacting with it,” Arnesen said, of the company’s multichain strategy. “They need to get a superior user experience and a true benefit.”