Goldman Sachs to enter transaction banking business in Japan By Reuters

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Goldman Sachs to enter transaction banking business in Japan

Published Apr 11, 2023 10:25PM ET Updated Apr 11, 2023 10:30PM ET

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Goldman Sachs to enter transaction banking business in Japan

© Reuters. FILE PHOTO: The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo

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TOKYO (Reuters) - Goldman Sachs Group Inc (NYSE:GS) 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.

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