Passkeys now support PRF extension which means that if the app is has passkey registered with it (with the user app identity, and not web), then you can use PRF extension by passing Phone+Pin and retrieve a seed for KDF, which then can be used to create encrypted payload, and stored in opaque location, or even offline/backup services.
The passkeys themselves provide pre-authorization, and rate limiting.
We just released a whole whitepaper on it
https://www.daryascam.info/White-Paper-Killing-messenger-phishing-with-passkeys-blackjack-and-hybrid-141cf1aba98e80ea9bcfee7353a22623#15acf1aba98e80c69248c53c89f5d58d