Binance, the world’s largest cryptocurrency exchange, is seeing a surge in customers due to rising inflation and a historically strong dollar that is depressing emerging market currencies, an executive told Reuters on Wednesday, without disclosing numbers.

“Now that we’re seeing rising inflation around the world, we’re seeing more and more people looking to cryptocurrencies like bitcoin as a way to protect themselves from inflation,” said Maximiliano Hinz, who heads Binance in Latin America.

Hinz cited the example of Argentina, where annual inflation is 90%. That country has emerged as one of the company’s leading markets, along with Brazil and Mexico, he said.

This year, despite the collapse in cryptocurrency prices, Argentine citizens have invested their savings in bitcoin.