What is USDC? Is it legit

USDC (USD Coin) is a type of cryptocurrency that is always worth 1 US dollar. It's called a stablecoin because its value stays stable, and it's backed by real money in a bank. It's issued by a U.S.-based company called Circle, which is a publicly traded company on the NYSE (CRCL) and is regularly audited and closely regulated by the US government.