Core FAQ (high-level, public-facing)

1. What is GNRC?
GNRC (Greenland Reserve Coin) is Europe’s first MiCA-registered Asset-Referenced Token (ART). It is a regulated, fungible and tradable digital asset backed by a finite reserve of Greenlandic rubies and sapphires.

2. How is GNRC different from other digital assets?
Unlike speculative cryptocurrencies, GNRC combines physical backing, conservative valuation and full MiCA compliance. It is designed as a diversification tool for investors seeking stability and regulated exposure.

3. Do GNRC investors own rubies and sapphires directly?
No. Each GNRC represents a proportional share of the reserve, not a specific stone. Investors gain exposure to the value of the gemstones. Redemption exists as a safeguard but the primary use case is trading and portfolio allocation.

4. Why is scarcity important?
The gemstones come from Greenland’s Aappaluttoq mine, which closed in 2023. With no new supply possible, the reserve creates lasting scarcity and long-term value support.

5. Where can GNRC be traded?
GNRC will launch on Norwegian Block Exchange (NBX) in September 2025, with NBX also acting as market maker to ensure liquidity. Additional listings on other regulated European exchanges are planned.

6. Who issues GNRC?
GNRC is issued by The Mint AS, a Norwegian fintech company based in Oslo with offices in Narvik and Bangkok. The company specializes in regulated tokenization of gemstones and other valuable assets.

Deep Dive FAQ (expandable for serious investors)

7. How is the reserve secured?
The gemstones are stored in insured, segregated vaults in Bangkok. They are held exclusively for GNRC holders and are not pledged, encumbered, or used for any other purpose.

8. How do independent audits work?
An external auditor verifies the gemstone inventory physically and reconciles it with intake and custody records. Results are published annually, ensuring full transparency.

9. How is GNRC financed, and who are the backers of The Mint AS?
The Mint AS is supported by Norwegian industrial investors with strong financial capacity and long-term commitment. While their identities are not disclosed publicly, full details are available to qualified investors under NDA in a due diligence process.

10. What happens if multiple investors redeem at the same time?
Redemption is designed as a safeguard, not the main liquidity mechanism. Large-scale redemptions would be processed in tranches by the custodian according to published timelines. The primary exit route is secondary trading, supported by NBX as market maker.

11. What insurance coverage is in place for the gemstones?
The reserve is insured at replacement value against theft, damage and physical loss. Coverage is provided by international insurers, and the vault facilities have multi-layered access control and monitoring.

12. How does GNRC address ESG concerns?
The gemstones were mined under strict environmental and social standards in Greenland, with full traceability. Since the mine is permanently closed, there is no ongoing environmental impact. In addition, The Mint partners with the Pink Polar Bear Foundation to support Arctic climate, community and indigenous initiatives.

13. How are proceeds from GNRC issuance used?
Proceeds are allocated to strengthen the reserve structure and ensure long-term stability, including inventory financing, liquidity provision, custody, compliance and transparency systems. Operational costs for The Mint AS are funded separately by its industrial backers.

14. What independent oversight is in place?
Reserves are verified annually through an independent Reserve Attestation. An Oversight Committee — including representatives from the custodian, auditor and an independent expert — supervises reserve segregation, redemption, and compliance.

15. How is value stability ensured?
The reserve is conservatively valued at 50% of retail market value, with an additional 5% buffer to protect the €1 floor. NAV and coverage ratios are published on a live transparency dashboard.

16. Why was Cardano chosen as the blockchain?
Cardano offers low transaction costs, scalability, proof-of-stake sustainability and built-in traceability. Its infrastructure supports regulated tokenization, making it a strong fit for GNRC.

17. What is GNRC’s long-term regulatory pathway?
GNRC is launched under MiCA’s Article 16 small-scale exemption (<€5m per 12 months). The Mint AS is preparing to transition into full ART authorization as issuance scales, ensuring continuity and long-term compliance.