Goldman Sachs to enter transaction banking business in Japan

TOKYO (Reuters) – Goldman Sachs Group Inc said on Wednesday it is launching its transaction banking business for corporate clients in Japan, as the U.S. investment bank expands in the world’s third-largest economy.

Goldman, which received its Japanese banking license in 2021, will provide clients with treasury services including deposits, cash management and cross-border payments into over 160 countries in more than 120 currencies, it said.

The service will be based on its cloud platform that was first launched in the United States in 2020, and Japan will be the first country in Asia to start it, the bank said.

(Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman)