Offchain Labs, the original developer of Arbitrum, has announced a new "quick withdrawal" feature that allows selected Orbit and RaaS providers to finalize withdrawals in 15 minutes, compared with the usual wait time of up to seven days. "After implementing fast withdrawals, the withdrawal time has been reduced by more than 90 per cent, and the withdrawal process is very similar to withdrawing money from a bank account. While not identical, it is a substantial improvement over traditional blockchain standards and brings it closer to the traditional TradFi money transfer experience," the team said.