Does Nexo require KYC?

Could you please clarify whether Nexo necessitates Know Your Customer (KYC) procedures? I'm interested in understanding the security measures Nexo employs when it comes to verifying the identity of its users. Additionally, could you elaborate on the reasons behind Nexo's potential requirement for KYC? How does this process affect the user experience? Is it a mandatory step for all users, or does it depend on the nature of their transactions or the services they wish to utilize? I'm keen to know the intricacies surrounding this matter and how it fits into Nexo's overall operational framework.