Banconote translates to "banknotes" or "bills." While it might seem like a common word, its appearance in this song is particularly interesting because it's used in the context of burning money.
Sfera Ebbasta sings, "E brucio banconote da cinquanta e da cento" (And I burn fifty and hundred euro banknotes). This imagery of burning money is a strong symbol of wealth, extravagance, and perhaps a disregard for material possessions in favor of something more profound, like love or emotional release. It's a vivid and somewhat provocative image that stands out in the lyrics.
VVS is a diamond clarity grade and Cartier is the jeweller, so the title is a flex before anyone has sung a word. Then the hook arrives and quietly hands the compliment over: "VVS Cartier, puoi vedere solo i miei diamanti di notte" ("VVS Cartier, at night you can only see my diamonds"), and four bars later it is her turn, "Comunque brilli come VVS Cartier" ("You shine like VVS Cartier anyway"). The jewellery is the measuring stick and she beats it. The rest of Sfera Ebbasta's verse is damage he is proud of, from "Tu lo sai, per te ho già rotto tutte le nocche" ("You know it, I've already broken all my knuckles for you") to "Ma tu saresti scesa anche all'inferno per me" ("But you would have gone down to hell for me"). The song ends on the tail of that line, "Anche all'inferno per me" ("Even to hell for me"), sung three times until it stops sounding like a boast.
Shiva takes the second verse somewhere colder. "So che questo fuoco non brucerà forever" ("I know this fire won't burn forever") next to "Solo i miei diamanti brilleranno per sempre" ("Only my diamonds will shine forever") concedes the whole romance in two lines: the stones outlast the feeling, and he works that out while it is still going on. Then he sets up the best joke on the record. His verse stops mid sentence on "Nuda nel mio letto, vestita soltanto con" ("Naked in my bed, wearing nothing but"), and the chorus comes back in to finish it for him. She is wearing the title.