What is USDC Treasury?

Can you explain what exactly is USDC Treasury? I've heard it mentioned in the context of cryptocurrency and finance, but I'm not entirely sure what it entails. Is it a type of digital currency? Is it tied to the US dollar in some way? How does it work, and what are its benefits or drawbacks compared to other cryptocurrencies or traditional financial instruments? Clarifying these points would help me better understand the role of USDC Treasury in the world of finance.