LeFinance teams with Stellar to provide cloud-based blockchain

eFinance, a division of LeEco, a Chinese content provider, has teamed with the altcoin Stellar for cross-border payments and monitoring credits, according to a company blog. Stellar, a payment protocol and currency, aims to bridge the gap between cryptocurrencies and fiat by allowing instant exchanges between currencies. Jed McCaleb, the founder of Mt. Gox, Ripple and e-Donkey, co-founded Stellar in 2014 and serves as its chief technical officer. Stellar is a part of the “LeFinance Blockchain Lab” strategy, launched in March 2016 to deploy distributed technology across LeEco divisions. LeFinance will use the Stellar network for cross-border payments and to monitor credits for use across its devices and platforms. LeFinance wants to offer customers a faster experience while providing a scalable and reliable accounting system for content in the cloud. Read more: cryptocoinsnews.com