Today's the day, folks. Microsoft has officially switched over to real currency and have done away with Microsoft Points, thanks to an Xbox 360 update that went live today. The update is rather small, but it includes the conversion of Microsoft Points to real currency in the digital payment system of the Xbox Live marketplace.
Existing Microsoft Points will be converted into an equal or greater value of the local currency for a specific user, and this includes any gift cards that gamers shall redeem later in the future. However, converted points expire on June 1, 2015, so spend them before that time to make sure you don't lose them.
Gamers should now see that their bank reads in dollars, pounds, or whatever currency you're using. The Xbox One will also use currency instead of Microsoft Points, providing a consistent experience between the Xbox One and the Xbox 360.
Other than the update to the currency system, the Xbox dashboard remains pretty much the same as before, so if you're hoping for other updates, you'll be sorely disappointed. But if you've been waiting for the day for Microsoft to finally use real money in the marketplace, then today's your lucky day.