This €64 billion bank accepts Parmesan cheese as collateral and lends money to cheese producers.

In northern Italy, Credito Emiliano treats cheese like gold.

The bank currently holds 430,000 wheels of Parmesan in its vaults, valued at approximately $200 million.

Real Parmesan – Parmigiano-Reggiano – takes at least 12 months to mature, and can take up to 3 years.

This leaves producers with millions of dollars worth of immature product they cannot sell, while still needing to pay for feed, bills, and employees.

Using the young cheese as loan collateral, producers receive immediate cash.

The bank advances up to 80% of the value to keep these businesses running.

While the loan is active, the cheese is stored in high-tech vaults where specialists care for it.

If the producer is unable to repay, the bank simply sells the matured cheese at a profit.