A single on-chain settlement of 4.397 billion USDC reportedly completed in seconds with zero transaction fees, marking one of the largest stablecoin transfers ever recorded on a public blockchain. The transfer took place on HyperEVM, the Ethereum-compatible execution layer of the Hyperliquid network. According to a Blockchair report, Circle moved the USDC to Coinbase via HyperEVM in a single transaction rather than splitting it across multiple batches.