just for fun, I ran an experiment.

I just transferred 0.008 ETH from my coinbase wallet to my metamask wallet.

It took 12 seconds according to etherscan.

In fact, it took longer to go through coinbase's authentication - fingerprint, duo passcode... their mobile app is pretty slow.

It cost 0.000084 in gas fees.

Basically it's quick and it's cheap. I work for a large but quite unknown fintech company and I can say from experience that traditional finance (swift, sepa etc) cannot compete with this, especially across borders.

I don't know how network congestion will affect speed and fees in the future, but I wouldn't be surprised if the banks aren't already seeing the writing on the wall & getting on-board.