when was paper money first used in europe
Banknote The idea of using a durable lightweight substance as evidence of a promise to pay a bearer on demand originated in China during the Han Dynasty in 118 BC, and was made of leather.[4] Although Carthage was purported to have issued bank notes on parchment or leather, at least before the city's destruction in 146 BC, making Carthage the oldest known user of lightweight promissory notes.[5][6][7]The first known banknote was first developed in China during the Tang and Song dynasties, starting in the 7th century. Its roots were in merchant receipts of deposit during the Tang Dynasty (618–907), as merchants and wholesalers desired to avoid the heavy bulk of copper coinage in large commercial transactions.[8][9][10] During the Yuan Dynasty, banknotes were adopted by the Mongol Empire. In Europe, the concept of banknotes was first introduced during the 13th century by travelers such as Marco Polo,[11][12] with European banknotes appearing in 1661 in Sweden.
History of banking The first prototype banks were the merchants of the world, who made grain loans to farmers and traders who carried goods between cities. This began around 2000 BC in Assyria and Sumeria. Later, in ancient Greece and during the Roman Empire, lenders based in temples made loans, while accepting deposits and performing the change of money. Archaeology from this period in ancient China and India also shows evidence of money lending activity.