USD Coin (USDC) is a stablecoin. A stablecoin is a type of cryptocurrency whose value is tied to an outside asset, such as the U.S. dollar or gold, to stabilize the price. In the case of USD Coin, each USDC is backed by one USD held in a bank account. This means that you can redeem 1 USDC for 1 USD.
USD Coin is an Ethereum token, which allows you to store it in a wallet compatible with Ethereum, such as Coinbase Wallet.
USD Coin is designed to allow global transactions; dollars can be transferred globally from your cryptocurrency wallet to other exchanges, businesses and individuals.
USDC is the creation of CENTRE, an open source technology project pioneered with Circle and Coinbase contributions. USDC will be governed by this organization focused on connecting every person, merchant, financial institution and currency, across the globe. Find out more. (https://www.centre.io/usdc)