As Nexo is a fully regulated financial institution in all the 200+ jurisdictions of its operation, the company is required to work under a business regulation known as KYC (Know Your Customer).
A KYC check is simply the act of us verifying the identity of our clients and is a measure against money-laundering, fraud and corruption. Conducting KYC checks also enables us to run smoothly without any problems with our banking/financial partners.
Nexo’s withdrawal limits are connected to the KYC which is why everyone who wants to take out a loan in fiat currency or take advantage of our Earn on Crypto & Fiat suite is required to pass Advanced Verification. This verification is performed for your own safety – providing an added security layer and preventing unauthorized persons from claiming your tokens.
We want to make the process as seamless as possible which is why we work with the leading identity verification provider - Jumio.
What do you do with the personal information from a KYC check?
Please note that Nexo only requires personal data for KYC and AML checks and does not share this information with other third parties, including for advertising purposes.
As an ISO 27001-certified entity, Nexo has stringent procedures in place to ensure the confidentiality of clients' data.