Is TUSD backed by dollar?

I'm curious, is TUSD backed by the US dollar? I've heard about stablecoins and their pegging mechanisms, but I'm not entirely sure how they work. Could you explain if TUSD maintains its value by being backed by the dollar? I'm interested in understanding the mechanisms behind its stability and how it differs from other cryptocurrencies that are not backed by fiat currencies. Would you mind shedding some light on this matter? Thank you in advance for your explanation.