Which cryptocurrency/DLT can be used to facilitate very large scale P2P trading?

I am looking for a DLT/crypto that can be used to facilitate large scale peer-to-peer trading for my project.

There are certain requirements it must meet:

Chain of Trust: The DLT must rely on a hierarchical chain of trust for operations: Starting with the Regulator (the most trustworthy entity), down to Distributors (mostly trustworthy entities) and down to P2P users. The trusted entities need to be able to be established for the whole chain in a centralized manner.

Locality: The DLT must be able to be run in a local P2P network between trustless P2P users, without connection to the trusted network. But when the connection to a trusted network is established, the hierarchical chain of trust is established.

Transaction fees: The transaction fees must be as low as possible and don't scale with system. I expect the fees to be less than 0.00025 USD per single transaction.

Number of users/transactions: The chain should be able to handle a massive amount of users, exceeding 100 million, and a massive amount of transactions, exceeding million transactions/second on the network total.

Lightweight: The chain must be lightweight enough to be able to run on modern good grade microcontrollers - e.g. ESP32-C3 (It has 384 kB ROM, 400 kB SRAM, hardware AES, SHA, RSA and RNG functions). Ideally it should be able to run even on ESP8285 (1 MB ROM, 50 kB SRAM) or worse. Some ledger functions could be run on Distributor hardware if it's present in the network which generally would be more powerful, and some could be offloaded to cloud if connection persists.

I have looked into different technologies but I'm quite new to crypto so there is a lot to sift through and it's hard to tell from experience whether certain projects would work. So far I have looked into Iota, Hedera, Nano, Constellation and Holochain. Iota and Hedera seem to be too centralized (in a bad way) and have high fees. Constellation might not be what I'm looking for, I didn't understand their philosophy and workings. Nano and Holochain seem like they could work.

Are the any other DLTs that I missed? Would I have to design my own DLT to achieve my requirements? I would like to hear some input, especially from people that worked with crypto to create some projects.