Microsoft today released a new beta build of Edge for Android. This new update v42.0.02055 brings native ad blocking support. Microsoft is using AdBlock Plus for blocking ads. Users can enable AdBlock Plus by going to Settings->Block Content menu.
Adblock Plus is the most popular ad blocker available in the market right now with over 100 million installations. Using this service, you can block all annoying ads all over the web, remove video ads on YouTube, block Facebook ads, get rid of pop-ups and much more.
You can download the updated build here from Play Store.