I’ve never seen this type of key either. But, I did notice that the two bits are mirror images of each other. It appears to be a lever lock. My guess is that the two bits allows the key to be used from either side of a door. I noticed also that the part of the shank or stem that contains the two bits is slightly smaller in diameter. Perhaps it is removable allowing one to reverse it. This is all guessing on my part since I am not familiar with this key type.