Goldman Sachs is expanding its transaction banking business with the launch of its services in Japan through its Tokyo branch.
The Tokyo branch of Goldman Sachs Bank USA is set to launch transaction banking services in Japan, according to a statement.
Its platform will target global companies in Japan with treasury services including cash management and cross-border payments into more than 160 countries.
Goldman’s banking arm obtained a license in 2021 from the country’s Financial Services Agency for corporate cash management operations.
Global Business
As part of broader plans to create stable revenue streams, Goldman Sachs first entered the cash management business for large companies in the US in 2020 before expanding to the UK, Germany and the Netherlands.
According to the bank, the number of clients in the business has doubled to over 450 since 2020.
