CryptoWorld news reports that Wu said he has learned that Arc Network, the financial infrastructure under stablecoin issuer Circle, has published the Arc token white paper. The white paper states that Arc will be positioned as the network’s “native coordinating asset,” mainly used for economic governance and fee mechanisms, and will support the network’s future transition from Proof of Authority (POA) to Proof of Stake (POS) through staking functions. According to an official statement, the Arc token has not yet been officially issued, and the token is used only for operations within the network and does not represent any equity or profit-sharing distribution of Circle, nor does it have investment or securities attributes.