This sounds like a check that's signed electronically rather than physically. I think another thing to note is that the other party is ASKING your bank/credit

This sounds like a check that's signed electronically rather than physically. I think another thing to note is that the other party is ASKING your bank/credit issuer to debit. The transaction can be stopped if not approved. Normally I see the argument for crypto being that this helps merchants by avoiding charge backs, etc.