Edge's Favourites/Bookmarks and Passwords sync on the cloud?

Hello. 

Thanks for reading this. I am trying to migrate from Chrome to Edge. I am extremely organised with my bookmarks as I use various research things for work. I have a very quick and simple question, that EDGE in previous versions was not able to help with. 

Does the new Microsoft Edge sync the bookmarks and password in a cloud, such as Chrome does? 

Let me be clear, I don't want sync between various session of Edge on various devices (a functionality, which the initial version had). 

To give you a concrete example: I delete completely this Windows10 from my computer (hypothetical) and buy a brand new laptop: will the bookmarks be saved on a cloud? This is something Chrome does.  And this example is important as the initial version of Edge synced the bookmarks as long as they were active on any device... I'm asking if they are synced whilst no active/already operational set of bookmarks. 

I'm sure most of you are familiar/have been at one time with Chrome. Google (no surprise there) save them in a cloud, so you can access them from any device, at any given time, via Chrome of via any other browser, online - in your account. Can/will Edge do the same? 

Hope this is clear, and there is no confusion in these questions. The last time I've asked Microsoft this it seems that the answers I got were to completely different questions... "Can I replace Chrome to EDGE and have my bookmarks save, Microsoft?" 

Thanks and take care. 

Alexander