Is there a way to toggle the transparency grid on and off as you can in Illustrator (by hitting cmd + shift + d)?
Picture of transparency grid in Illustrator for reference:
There currently is no way to quickly toggle between them, as you can read here.
One can show the transparency grid the following way, but toggeling it off and on via shortcut is not yet possible:
In the File menu click "document setup"
And then under the "colour" tab check "transparent background"