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> And that's money in your pocket at that point not an IOU like a pending transaction at a US bank

In Australia, we have instant transfers between bank accounts.

I imagine the US will get to that point soon in which case there is no benefit to crypto for this use case.

It exists in the US as well (Zelle), except due to the super high number of banks, not all will have feature parity / have it enabled. The major banks like Chase support QR code scanning for instant transfers, smaller ones might require a phone number or email input via keyboard.

Venmo is probably even more popular than zelle

It will exist soon in the US since FedPay was rolled out this year. It will take a while for banks to support it, but my guess is everyone will support it as replacement to ACH.

I don't think Venmo will die since there is a need for app to provide nice interface. But Zelle has been lobbying against FedPay since it will destroy them.

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