Binance says it is winning crypto clients thanks to inflation

Binance, the world’s largest cryptocurrency exchange, is seeing a surge in clients due to rising inflation and a historically strong dollar that has depressed emerging market currencies without disclosing numbers.

Maximiliano Hinz, the head of Binance in Latin America, pointed to the example of Argentina, where annual inflation is at 90%. The country has grown into one of the company’s top markets, he said, together with Brazil and Mexico. Argentina saw citizens pour savings into bitcoin this year despite a crash in cryptocurrency prices.