.. but slower than contactless or other card transactions, and (usually) slower than Faster Payments.
(Comparing to securities settlement is interesting, because cryptocurrency exchanges use off-blockchain "settlement" within themselves. Trades execute near-instantly because they're just updating a database. However, settling your money out of an exchange can take a lot longer)
> settling your money out of an exchange can take a lot longer
Usually only if there's something wrong, like a technical or KYC issue. In many cases it is possible to execute a trade and withdraw as fast as the blockchain (or your bank) will allow.
(Comparing to securities settlement is interesting, because cryptocurrency exchanges use off-blockchain "settlement" within themselves. Trades execute near-instantly because they're just updating a database. However, settling your money out of an exchange can take a lot longer)