Is USDC owned by Coinbase?

I'm curious to know, does Coinbase own USDC, the stablecoin that is gaining popularity in the cryptocurrency space? With the growing interest in decentralized finance and the rise of various stablecoins, it's important to understand the ownership structure behind these assets. Is Coinbase indeed the entity that oversees and manages USDC, or is there another entity entirely that is responsible for its issuance and regulation? Understanding the ownership and governance of USDC is crucial for investors and traders alike.