Why does passkey recovery take 24 hours?

Recovering the passkey that approves payments starts a safety delay of about 24 hours before the new passkey can move funds.

The delay exists because recovery hands control of an account to a new key. If someone else ever managed to start a recovery on your account, the waiting period gives you time to notice and cancel it before anything can be sent. You can cancel a recovery in progress from Settings > Security > Recovery email.

Signing in to the app is not delayed. The wait applies to approving transactions.