Microsoft has released an Xbox 360 update that officially kills off Microsoft Points in all regions.

Points was the currency of the Xbox Live Marketplace, Games for Windows Marketplace, Windows Live Gallery, etc, but Microsoft revealed in June during the Electronic Entertainment Expo 2013 that it planned to phase out the system in autumn 2013.

Read: MS points ditched for Xbox Live beta testers, yay! Game prices go up, boo!

Local currencies now replace Points. The system update, detailed on an Xbox 360 support page on Monday, specifically retires Microsoft Points and instead allows users to spend their local currency or an Xbox Gift Card on content.

Microsoft said it would convert existing Points to an equal or greater value of each user's local currency, which will be added to accounts for use before 1 June, 2015.