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Goldman Sachs Group is further expanding as it will launch its transaction banking business for corporate clients in Japan. The service will be based on the bank’s cloud platform, launched in the United States in 2020. Japan will become the first Asian country to benefit from the platform, according to the bank.
Goldman received a banking license for Japan, the world’s third-largest economy, in 2021. The bank will offer clients with several treasury services, including deposits, cash management, and cross-border payments globally in over 120 currencies through the Goldman Sachs Bank USA’s Tokyo branch.
Goldman Sachs has also expanded its operations in some European countries since 2020, in search of stable revenue streams. The number of clients for the bank have doubled to 450 since 2020, according to a presentation.
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