The town is located in the Molise region of southern Italy with a tiny population of just 550 residents.

Minting money is something the town’s mayor Enrico Fratangelo has been studying for more than twelve years and now the COVID-19 pandemic gave him the opportunity to test his skills.

The new currency, ‘Ducati’, is being distributed in banknote form to residents in accordance with their economic needs. Locals have already spent thousands of ‘Ducati’ at local shops in the area.

Every two weeks, the shops return the currency to the town council and receive a corresponding amount of money in euros, Euronews reports.

Mr Fratangelo believes this is also an opportunity to increase the town’s sense of belonging, as the banknotes depict local symbols like the church, the public swimming pool or the statue of the Virgin Mary.

Fratangelo said: “Five ‘Ducati’ are worth €5, 20 of them are worth €20. That’s to avoid confusion, especially for the elderly.”

The mayor received €5,500 from the Italian Government to issue food vouchers to vulnerable families during the pandemic. The town council added its savings and distributed ‘Ducati’ banknotes to over 200 families in the town.