Microsoft is reportedly working on a new Web3 wallet that will enable users to handle cryptocurrencies and NFTs. The wallet will be integrated into the Edge web browser and will be non-custodial, which means Microsoft will not have access to users’ passwords or recovery keys. Instead of functioning as an extension, the wallet will be incorporated into the browser itself. Users will be able to trade, transfer, and acquire crypto assets using the wallet, and it will interface with Coinbase and MoonPay to simplify cryptocurrency purchases and deposits.
The development of this new wallet is part of Microsoft’s broader effort to enhance the functionality of its Edge browser and compete with industry rivals like Google Chrome and Apple Safari. In February, Microsoft announced that it would be integrating OpenAI’s ChatGPT, an AI-driven search engine and chat feature, into its Bing search engine and Edge browser. This move demonstrated Microsoft’s commitment to remaining competitive and relevant in an environment that is increasingly favorable toward cryptocurrencies, and the release of a Web3 wallet is another sign of this commitment.