USDC (USD Coin) is a **stablecoin** backed by the US dollar, meaning its value is intended to remain stable at **1 USD**. It is issued by **Circle**, a company specializing in digital financial services. USDC is widely used in cryptocurrency transactions, particularly on blockchains like **Ethereum, Solana, and Polygon**.

Recently, Circle raised **1.05 billion dollars** before going public, reaching a diluted valuation of **8.1 billion dollars**. Its IPO was successful, with a **168%** increase in its stock price on the first day. This IPO could also be beneficial for **Ethereum**, as a large portion of USDC is used on this blockchain.