QuantConnect, an algorithmic trading platform for equities, FX, futures, options and derivatives, today announced the launch of cryptocurrency support. This has been achieved via an integration with the institutional exchange platform of Coinbase, GDAX.

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Adding cryptocurrencies to the platform allows users to identify, backtest and research ideas, insights and strategies, Additionally, users will have the opportunity to hedge preexisting positions by investing in cryptocurrency.

“Adding cryptocurrency support to QuantConnect was the next logical step for our business,” said QuantConnect CEO Jared Broad. “As a powerful open-source initiative, we saw an opportunity to reach a larger set of quants & engineers that have been investing in digital currencies. Now, with a strategic integration with GDAX, the QuantConnect community can design and instantly deploy cryptocurrency strategies.”

“This integration shows the continued commitment of traditional financial institutions to adopt this technology and widen access for customers,” said Adam White, Head of GDAX. “As the awareness of digital currency as an emerging asset class grows, QuantConnect has made it easier for institutions to conveniently backtest, research and live trade digital currencies, and integrations like these continue to make GDAX the most trusted digital asset exchange.”

In addition to its integration with GDAX, QuantConnect plans to connect with other cryptocurrency exchanges in Q1 of 2018, including Kraken Bitcoin Exchange.