I think this translates to "coast cruise" or something like that. (Anyone fluent in Italian out there?) I assume it refers to the Italian/Venice gondola scene in the picture?

I bought it in a screw-off gold bezel keychain, so maybe it was designed to be sold as a souveneir to cruise ship tourists on the Italian coast?

Any ideas on this chip?

It is a modern H&C full graphic chip & keychain also looks as if made within the past 1-3 years.