Is USDC on Ethereum?

Excuse me, could you clarify something for me? I've been hearing a lot about cryptocurrencies lately and I'm particularly interested in USDC. Is USDC actually hosted on the Ethereum blockchain? I've seen some discussions about it, but I'm still not entirely sure. Could you explain how it works, if it's indeed based on Ethereum? I'd really appreciate it if you could break it down for me in a simple way. Thank you in advance for your help!