Is FDUSD backed?

Could you please elaborate on the question, "Is FDUSD backed?" I'm curious to know if FDUSD is supported or guaranteed by any institution or asset. If so, what kind of backing does it have? Is it collateralized by other cryptocurrencies, fiat currencies, or other forms of value? Is the backing transparent and auditable? And finally, how does this backing affect the stability and trustworthiness of FDUSD as a cryptocurrency? Thank you for clarifying this matter.