Who provides USDC?

Who exactly provides USDC? I've heard about this stablecoin quite often in the crypto space, but I'm still not entirely sure who backs it. Is it issued by a centralized entity or is it decentralized? And what are the guarantees that it will maintain its peg to the US dollar? I'm also curious about the underlying assets that support USDC. Are they diversified or concentrated in a few assets? Could you please elaborate on the issuer's credibility and track record in maintaining the stability of USDC? Additionally, how does the issuance and redemption process work? Is it transparent and efficient? I'd appreciate it if you could provide a comprehensive answer to these questions.