Coinbase's GDAX today announced that algorithmic trading platform QuantConnect has integrated with the cryptocurrency exchange.

The addition of GDAX will see the open-source trading platform extend its existing services to include cryptocurrencies though the exchange's API. Currently, QuantConnect allows its customers to design trading algorithms around foreign currencies, equities and derivatives contracts.

The cryptocurrency market is no stranger to algorithmic trading, with the use of trading bots and automated protocols fueling the activities of market makers, as well as those seeking arbitrage opportunities by taking advantage of varying prices across different exchanges.

In statements, QuantConnect highlighted the apparent natural fit between cryptocurrencies and algorithmic trading, describing it as "the next logical step" for its platform.

"As a powerful open-source initiative, we saw an opportunity to reach a larger set of quants [and] engineers that have been investing in digital currencies," said QuantConnect founder and CEO Jared Broad. "Now, with a strategic integration with GDAX, the QuantConnect community can design and instantly deploy cryptocurrency strategies."

QuantConnect also aired plans to add support for additional exchanges during the first quarter of 2018, noting that one of those would be San Francisco-based exchange Kraken.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has ownership stakes in Coinbase and Kraken.

Trading chart image via Shutterstock

This article has been updated for clarity.