How does the USDC work?

Could you please explain to me how the USDC actually functions? I'm really interested in understanding the mechanics behind this cryptocurrency. For instance, how is it created? How does it maintain its stability? And how does it interact with other cryptocurrencies or traditional financial systems? I'm also curious about its use cases and whether it's widely accepted in the market. Would you mind breaking it down for me in a way that's easy to understand? I'm eager to learn more about this fascinating topic.