Common prototypes of bills of exchanges and promissory notes originated in China, where special instruments called feitsyan were used to safely transfer money over long distances during the reign of the Tang Dynasty in the 8th century [REF].
In the mid-13th century, the Ilkhanid rulers of Persia printed the "cha" or "chap" which was used as paper money for limited usage for transactions between the court and the merchants for about three years before it collapsed.