Coinmate, a user-friendly gateway to cryptocurrencies and modern investing, developed a new mobile application to enhance how users trade, save, and learn. As part of this initiative, the company addressed a key challenge: implementing an authentication solution that balances a seamless user experience with strong security and compliance, while accommodating the crypto sector’s large user base and irregular login patterns.
Challenge: Balancing Security and Simplicity amid Rising Crypto Regulations
Its existing web-based login using Bank iD was secure but too cumbersome for a mobile-first environment. At the same time, a shifting regulatory landscape added pressure. Frameworks like the Markets in Crypto-Assets Regulation (MiCA) increased expectations around identity verification and Anti-Money Laundering (AML). Although Strong Customer Authentication (SCA) was not strictly required, regulators such as the Czech National Bank were pushing for stricter user verification standards.
Solution: Delivering a Seamless Authentication Solution
Wultra implemented its Mobile-First Authentication to support Coinmate’s new application focusing on simplicity, future-proof security, and user experience.
The onboarding process was designed to be frictionless, while remaining aligned with future banking standards, although such standards are not currently required for Coinmate.
- Users first verify their identity via Bank iD
- They then transition into Wultra’s activation flow
- A PIN and biometric authentication are set up for future access
This approach ensures strong security, while significantly improving usability for users, who may not log in daily but still expect fast, reliable access when they do.
In addition to authentication, Wultra delivered Mobile In-App Protection, adding an extra layer of security that helped Coinmate protect the app against cybersecurity threats with minimal resources, allowing the team to focus on customer-facing features.
Security has always been a top priority for us, which is what led us to Wultra. Implementing Wultra was a strategic move that allowed us to achieve the perfect balance: future-proof, banking-grade security and a smooth, mobile-first user experience. This partnership freed up our internal resources to focus purely on enhancing our core trading features, confident that our authentication and in-app protection are world-class and fully compliant.
Dominik Moštěk
Chief Technology Officer
Impact: User-friendly, Cost-efficient Authentication Aligned with Banking Standards That May Be Required in the Future
The implementation delivered a balanced combination of user convenience, operational efficiency, and strong security standards, helping Coinmate improve customer onboarding and authentication while staying prepared for future regulatory and banking requirements. The key business and user benefits included:
- Great user experience and smooth rollout – A simple, intuitive mobile-first authentication via Bank iD, combined with a seamless Wultra flow (PIN + biometrics), ensured high user satisfaction, rapid adoption, and minimal friction. The result was more than 9,000 new downloads, a 4.2-star rating in the iOS App Store, and reduced support demands.
- Cost-efficient solution – Lower implementation and operational costs thanks to charging only for active logged-in users, leveraging existing Bank iD infrastructure for onboarding, and eliminating unnecessary complexity.
- High quality and compliant – Robust security aligned with potential banking regulations, with no hassle in the future, combined with built-in mobile app protection and a wide range of ready-to-integrate features.
- Improved user security – Enhanced in-app protection against mobile threats with easy integration, protecting Coinmate’s customers and reputation.
