I think the KYC requirement is a given if you want your card to even be connected to mastercard, this payment service company won't even allow you hooking up unknown parties to use their services.

Of course my main concern is why would a not so popular exchange do this? Questions and suspicions will always arise on these kinds of unique features especially on a not so trusted crypto exchanges. Questions like are they really doing this for our convenience or they really just want our personal information badly and using this KYC requirement to obtain it?  This is really not a question of  anyone wanting it because I know a lot of people do but it should be a question about do we trust this exchange offering this feature in the first place?