TD has successfully moved real USD funds between two domestic U.S. entities for the first time using the Project Agorá platform. The test case involved executing a tokenized payment between TD New York Branch (TD Securities LLC) and TD Bank, N.A., in partnership with Bank of New York (BNY). The transaction was done as part of Project Agorá's real-value testing with participating central banks and financial institutions testing payments across selected currencies and scenarios.Project Agorá, a public-private initiative convened by the Bank for International Settlements and the Institute of International Finance, is designed to explore how digital forms of existing money and new payment technology could help improve wholesale cross-border payments.Supporting Responsible InnovationTD’s participation in Project Agorá reflects the bank’s focus on practical innovation that can improve client experiences and support the continued modernization of payment infrastructure. The collaboration also underscores the importance of public-private engagement in exploring emerging technologies that could strengthen global payment systems without compromising regulatory expectations, financial stability or client trust.TD will continue to engage with public- and private-sector partners as the industry evaluates how tokenization, programmable settlement and shared infrastructure could improve wholesale cross-border payments.Advancing Cross-Border Payment Innovation Through CollaborationProject Agorá brings together central banks and private-sector financial institutions to explore whether digital forms of existing money can reduce common challenges in wholesale cross-border payments. Today, these payments can involve multiple steps, limited visibility, and delays for financial institutions and their clients.Project Agorá is exploring whether a shared digital payment platform could help institutions settle payments in multiple currencies, build key payment steps and compliance checks into the process, and give participants better visibility from start to finish.NoYesPayments07 Sep, 2026