Political conflict did not, however, prevent the city's rise to become one of the most powerful and prosperous in Europe, assisted by its own strong gold currency. The "fiorino d'oro" of the Republic of Florence, or florin, was introduced in 1252, the first European gold coin struck in sufficient quantities to play a significant commercial role since the 7th century. Many Florentine banks had branches across Europe, with able bankers and merchants such as the famous chronicler Giovanni Villani of the Peruzzi Company engaging in commercial transactions as far away as Bruges. The florin quickly became the dominant trade coin of Western Europe, replacing silver bars in multiples of the mark. This period also saw the eclipse of Florence's formerly powerful rival Pisa, which was defeated by Genoa in 1284 and subjugated by Florence in 1406 . Power shifted from the aristocracy to the mercantile elite and members of organized guilds after an anti-aristocratic movement, led by Giano della Bella, enacted the Ordinances of Justice in 1293.