Leaked internal Microsoft documents posted to the Resetera gaming forum, showed an Xbox roadmap from May 2022 that includes support for crypto wallets. The massive leak was blamed on documents related to the Federal Trade Commission's lawsuit to block Microsoft's $69 billion bid for Activision Blizzard being uploaded before being redacted.
We can speculate on some potential reasons why a company like Microsoft might consider such a move, though it's important to note that this is purely speculative and not based on any official information:
It's important to emphasize that implementing a cryptocurrency wallet in a gaming console involves various technical, potential regulatory, and security challenges. We at Cogni, know all too well the pain in implementing a web3 solution into an existing web2 infrastructure. We’ve seen evidence from Microsoft that shows how their Edge browser + wallet will look like, so we know they’re hard at work.
This could be a game changer (no pun intended).
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The Cogni Visa Debit Card is issued by Community Federal Savings Bank, member FDIC, pursuant to a license from Visa U.S.A. Inc. Crypto wallet funds and digital tokens are not held at any bank and like all cryptocurrencies are not FDIC insured.