TechFlow News, October 25 — According to CoinDesk, Offchain Labs, the initial developer of the Ethereum Layer 2 network Arbitrum, has announced the launch of its "express withdrawals" feature. This functionality will allow certain Orbit chains and Rollup-as-a-Service (RaaS) providers to complete withdrawals within 15 minutes, significantly improving efficiency compared to the previous seven-day waiting period.
The Offchain Labs team stated: "Express withdrawals reduce withdrawal times by over 90%, making the process extremely similar to withdrawals from traditional bank accounts. While not identical, this represents a major improvement over traditional blockchain standards, bringing fund transfers much closer to the experience of traditional finance."
Orbit chains planning to support this feature in the future include Apechain, Cheese, Nova, Sanko, and Xai. RaaS providers include Offchain Labs, Alchemy, Altlayer, Ankr, Caldera, Conduit, and Gelato.
