Venetian merchants had the advantage of receiving a special privilege to trade from the Byzantine Empire. Venice in the Renaissance was the greatest commercial power in the world. Trade connected Europe to the Eastern world. Trade products consisted of animal skin, salt and minerals, sugar, wax, wool, metals, spices, medicines, precious metals such as gold and silver. Venice received luxury goods from the East and raw materials were sent east from Northern Europe. Commerce and banking went hand in hand. Banco Medici branches were present in Venice and all other major cities during the Renaissance. The currency and banking system of the Medici Bank favored the expansion of trade. Through the system, the accounts were structured around the two traders which were useful and practical for traders. The level of convenience has been the main reason for the trading boom among traders. Banking caused trade to expand while trade created a new division of banking. ( TAKE ABOUT THE