What is USDC (USD Coin)?

Could you elaborate on what USDC, or USD Coin, is and its significance in the cryptocurrency and finance world? I'm curious to understand how it differs from other stablecoins and why it's gaining popularity. What are the key features that make it stand out? Additionally, could you discuss the role it plays in facilitating transactions and maintaining stability in the digital currency market? Your insights would be invaluable in helping me gain a deeper understanding of this emerging digital asset.