Crown Banking was already established in the New World, in fact, quite a few merchant banks were setup just for this purpose. They would take Promissory Notes and transfer wealth, physical wealth, which was gold and silver bullion at the time.
History: How did wealthy Europeans move assets to the New World during the colonial era?
Who built the first electronic payment processing system?1 ansWhat conditions does a society need before it can successfully implement fiat currency?1 ansBefore wire-transfer technology existed, how were funds moved from one person to another?1 ansWho invented the credit card, and how did it become a widely used payment method in the United States?1 ans