QuantConnect, an open-source, cloud-based algorithmic trading platform, today announced the launch of cryptocurrency support along with its integration with Global Digital Asset Exchange (GDAX). The integration with GDAX, a margin and professional oriented crypto trading exchange owned by San Francisco-headquartered Coinbase enables users to backtest, research and live trade digital currencies.

QuantConnect users can design strategies that use cryptocurrencies in addition to equities, FX, futures and options, from opening tick to daily resolution. QuantConnect is the first algorithmic trading platform that allows users to build strategies across these five asset classes. Adding cryptocurrencies to the platform allows users to identify, backtest and research new ideas, insights and strategies, Additionally, users will have the opportunity to hedge preexisting positions by investing in cryptocurrency.

Over the past several months, QuantConnect has seen tremendous growth within its community due to new opportunities for live algorithmic trading. Both strategy building and backtesting activity have increased 300%, and live algorithms are up 30%. In addition to its integration with GDAX, QuantConnect plans to connect with other cryptocurrency exchanges in Q1 of 2018, including Kraken Bitcoin Exchange.