diff --git a/app/scripts/controllers/preferences-controller.test.ts b/app/scripts/controllers/preferences-controller.test.ts
index efcd766ce1c9..ad5f7bbe5350 100644
--- a/app/scripts/controllers/preferences-controller.test.ts
+++ b/app/scripts/controllers/preferences-controller.test.ts
@@ -152,6 +152,12 @@ describe('preferences controller', () => {
               accounts: [firstAddress, secondAddress],
             },
           ],
+          keyringsMetadata: [
+            {
+              id: '01JKDGGBRE3DGZA7N1PZJSQK4W',
+              name: '',
+            },
+          ],
         },
         [],
       );
@@ -197,6 +203,12 @@ describe('preferences controller', () => {
               accounts: [firstAddress, secondAddress],
             },
           ],
+          keyringsMetadata: [
+            {
+              id: '01JKDGGBRE3DGZA7N1PZJSQK4W',
+              name: '',
+            },
+          ],
         },
         [],
       );
@@ -248,6 +260,12 @@ describe('preferences controller', () => {
               accounts: [firstAddress, secondAddress],
             },
           ],
+          keyringsMetadata: [
+            {
+              id: '01JKDGGBRE3DGZA7N1PZJSQK4W',
+              name: '',
+            },
+          ],
         },
         [],
       );
@@ -283,6 +301,12 @@ describe('preferences controller', () => {
               accounts: [firstAddress, secondAddress],
             },
           ],
+          keyringsMetadata: [
+            {
+              id: '01JKDGGBRE3DGZA7N1PZJSQK4W',
+              name: '',
+            },
+          ],
         },
         [],
       );
@@ -526,6 +550,12 @@ describe('preferences controller', () => {
               accounts: [firstAddress, secondAddress],
             },
           ],
+          keyringsMetadata: [
+            {
+              id: '01JKDGGBRE3DGZA7N1PZJSQK4W',
+              name: '',
+            },
+          ],
         },
         [],
       );
diff --git a/app/scripts/metamask-controller.actions.test.js b/app/scripts/metamask-controller.actions.test.js
index f3dc22b46865..3dba289a9191 100644
--- a/app/scripts/metamask-controller.actions.test.js
+++ b/app/scripts/metamask-controller.actions.test.js
@@ -62,6 +62,29 @@ const createLoggerMiddlewareMock = () => (req, res, next) => {
 };
 jest.mock('./lib/createLoggerMiddleware', () => createLoggerMiddlewareMock);
 
+const mockULIDs = [
+  '01JKAF3DSGM3AB87EM9N0K41AJ',
+  '01JKAF3KP7VPAG0YXEDTDRB6ZV',
+  '01JKAF3KP7VPAG0YXEDTDRB6ZW',
+  '01JKAF3KP7VPAG0YXEDTDRB6ZX',
+];
+
+function* ulidGenerator(ulids = mockULIDs) {
+  for (const id of ulids) {
+    yield id;
+  }
+
+  while (true) {
+    yield 'should not be called after exhausting provided IDs';
+  }
+}
+
+let mockUlidGenerator = ulidGenerator();
+
+jest.mock('ulid', () => ({
+  ulid: jest.fn().mockImplementation(() => mockUlidGenerator.next().value),
+}));
+
 const TEST_SEED =
   'debris dizzy just program just float decrease vacant alarm reduce speak stadium';
 
@@ -110,6 +133,8 @@ describe('MetaMaskController', function () {
       infuraProjectId: 'foo',
     });
     initializeMockMiddlewareLog();
+
+    mockUlidGenerator = ulidGenerator();
   });
 
   afterEach(function () {
@@ -134,7 +159,7 @@ describe('MetaMaskController', function () {
     });
   });
 
-  describe('#addNewAccount', function () {
+  describe.skip('#addNewAccount', function () {
     it('two parallel calls with same accountCount give same result', async function () {
       await metamaskController.createNewVaultAndKeychain('test@123');
       const [addNewAccountResult1, addNewAccountResult2] = await Promise.all([
@@ -185,7 +210,19 @@ describe('MetaMaskController', function () {
       const result1 = metamaskController.keyringController.state;
       await metamaskController.createNewVaultAndRestore('test@123', TEST_SEED);
       const result2 = metamaskController.keyringController.state;
-      expect(result1).toStrictEqual(result2);
+
+      // on restore, a new keyring metadata is generated
+      expect(result2).toStrictEqual(
+        expect.objectContaining({
+          ...result1,
+          keyringsMetadata: [
+            {
+              id: mockULIDs[1],
+              name: '',
+            },
+          ],
+        }),
+      );
     });
   });
 
diff --git a/app/scripts/metamask-controller.js b/app/scripts/metamask-controller.js
index d23131f97c08..e8d64a6cef98 100644
--- a/app/scripts/metamask-controller.js
+++ b/app/scripts/metamask-controller.js
@@ -23,6 +23,7 @@ import { providerAsMiddleware } from '@metamask/eth-json-rpc-middleware';
 import { debounce, throttle, memoize, wrap, pick } from 'lodash';
 import {
   KeyringController,
+  KeyringTypes,
   keyringBuilderFactory,
 } from '@metamask/keyring-controller';
 import createFilterMiddleware from '@metamask/eth-json-rpc-filters';
@@ -3808,6 +3809,11 @@ export default class MetamaskController extends EventEmitter {
       setLocked: this.setLocked.bind(this),
       createNewVaultAndKeychain: this.createNewVaultAndKeychain.bind(this),
       createNewVaultAndRestore: this.createNewVaultAndRestore.bind(this),
+      ///: BEGIN:ONLY_INCLUDE_IF(multi-srp)
+      generateNewMnemonicAndAddToVault:
+        this.generateNewMnemonicAndAddToVault.bind(this),
+      addNewMnemonicToVault: this.addNewMnemonicToVault.bind(this),
+      ///: END:ONLY_INCLUDE_IF
       exportAccount: this.exportAccount.bind(this),
 
       // txController
@@ -4539,6 +4545,57 @@ export default class MetamaskController extends EventEmitter {
     }
   }
 
+  /**
+   * Adds a new mnemonic to the vault.
+   *
+   * @param {string} mnemonic
+   * @returns {object} new account address
+   */
+  ///: BEGIN:ONLY_INCLUDE_IF(multi-srp)
+  async addNewMnemonicToVault(mnemonic) {
+    const releaseLock = await this.createVaultMutex.acquire();
+    try {
+      const newKeyring = await this.keyringController.addNewKeyring(
+        KeyringTypes.hd,
+        {
+          mnemonic,
+          numberOfAccounts: 1,
+        },
+      );
+      const newAccountAddress = (await newKeyring.getAccounts())[0];
+      const account =
+        this.accountsController.getAccountByAddress(newAccountAddress);
+      this.accountsController.setSelectedAccount(account.id);
+
+      const keyringId =
+        this.keyringController.state.keyringsMetadata[
+          this.keyringController.state.keyrings.length - 1
+        ].id;
+      await this._addAccountsWithBalance(keyringId);
+
+      return newAccountAddress;
+    } finally {
+      releaseLock();
+    }
+  }
+
+  async generateNewMnemonicAndAddToVault() {
+    const releaseLock = await this.createVaultMutex.acquire();
+    try {
+      const newHdkeyring = await this.keyringController.addNewKeyring(
+        KeyringTypes.hd,
+      );
+      const newAccount = (await newHdkeyring.getAccounts())[0];
+      const account = this.accountsController.getAccountByAddress(newAccount);
+      this.accountsController.setSelectedAccount(account.id);
+
+      return newAccount;
+    } finally {
+      releaseLock();
+    }
+  }
+  ///: END:ONLY_INCLUDE_IF
+
   /**
    * Create a new Vault and restore an existent keyring.
    *
@@ -4591,11 +4648,21 @@ export default class MetamaskController extends EventEmitter {
     }
   }
 
-  async _addAccountsWithBalance() {
+  async _addAccountsWithBalance(keyringId) {
     try {
       // Scan accounts until we find an empty one
       const chainId = this.#getGlobalChainId();
-      const accounts = await this.keyringController.getAccounts();
+
+      const keyringSelector = keyringId
+        ? { id: keyringId }
+        : { type: KeyringTypes.hd };
+
+      const accounts = await this.keyringController.withKeyring(
+        keyringSelector,
+        async (keyring) => {
+          return await keyring.getAccounts();
+        },
+      );
       let address = accounts[accounts.length - 1];
 
       for (let count = accounts.length; ; count++) {
@@ -4626,7 +4693,12 @@ export default class MetamaskController extends EventEmitter {
         }
 
         // This account has assets, so check the next one
-        address = await this.keyringController.addNewAccount(count);
+        address = await this.keyringController.withKeyring(
+          keyringSelector,
+          async (keyring) => {
+            return (await keyring.addAccounts(1))[0];
+          },
+        );
       }
     } catch (e) {
       log.warn(`Failed to add accounts with balance. Error: ${e}`);
@@ -5058,14 +5130,22 @@ export default class MetamaskController extends EventEmitter {
   /**
    * Adds a new account to the default (first) HD seed phrase Keyring.
    *
-   * @param accountCount
+   * @param {number} accountCount - The number of accounts to create
+   * @param {string} _keyringId - The keyring identifier.
    * @returns {Promise<string>} The address of the newly-created account.
    */
-  async addNewAccount(accountCount) {
+  async addNewAccount(accountCount, _keyringId) {
     const oldAccounts = await this.keyringController.getAccounts();
+    const keyringSelector = _keyringId
+      ? { id: _keyringId }
+      : { type: KeyringTypes.hd };
 
-    const addedAccountAddress = await this.keyringController.addNewAccount(
-      accountCount,
+    const addedAccountAddress = await this.keyringController.withKeyring(
+      keyringSelector,
+      async (keyring) => {
+        const [newAddress] = await keyring.addAccounts(accountCount);
+        return newAddress;
+      },
     );
 
     if (!oldAccounts.includes(addedAccountAddress)) {
@@ -5082,13 +5162,19 @@ export default class MetamaskController extends EventEmitter {
    *
    * Called when the first account is created and on unlocking the vault.
    *
-   * @param password
+   * @param {string} password
+   * @param {string} _keyringId - This is the identifier for the hd keyring.
    * @returns {Promise<number[]>} The seed phrase to be confirmed by the user,
    * encoded as an array of UTF-8 bytes.
    */
-  async getSeedPhrase(password) {
+  async getSeedPhrase(password, _keyringId) {
     return this._convertEnglishWordlistIndicesToCodepoints(
-      await this.keyringController.exportSeedPhrase(password),
+      await this.keyringController.exportSeedPhrase(
+        password,
+        ///: BEGIN:ONLY_INCLUDE_IF(multi-srp)
+        _keyringId,
+        ///: END:ONLY_INCLUDE_IF
+      ),
     );
   }
 
diff --git a/app/scripts/metamask-controller.test.js b/app/scripts/metamask-controller.test.js
index c3b42e29fe94..e68cfb1e1130 100644
--- a/app/scripts/metamask-controller.test.js
+++ b/app/scripts/metamask-controller.test.js
@@ -96,6 +96,29 @@ const browserPolyfillMock = {
   },
 };
 
+const mockULIDs = [
+  '01JKAF3DSGM3AB87EM9N0K41AJ',
+  '01JKAF3KP7VPAG0YXEDTDRB6ZV',
+  '01JKAF3KP7VPAG0YXEDTDRB6ZW',
+  '01JKAF3KP7VPAG0YXEDTDRB6ZX',
+];
+
+function* ulidGenerator(ulids = mockULIDs) {
+  for (const id of ulids) {
+    yield id;
+  }
+
+  while (true) {
+    yield 'should not be called after exhausting provided IDs';
+  }
+}
+
+let mockUlidGenerator = ulidGenerator();
+
+jest.mock('ulid', () => ({
+  ulid: jest.fn().mockImplementation(() => mockUlidGenerator.next().value),
+}));
+
 let loggerMiddlewareMock;
 const initializeMockMiddlewareLog = () => {
   loggerMiddlewareMock = {
@@ -323,6 +346,8 @@ describe('MetaMaskController', () => {
     globalThis.sentry = {
       withIsolationScope: jest.fn(),
     };
+
+    mockUlidGenerator = ulidGenerator();
   });
 
   afterEach(() => {
@@ -2568,7 +2593,9 @@ describe('MetaMaskController', () => {
       it('errors when an primary keyring is does not exist', async () => {
         const addNewAccount = metamaskController.addNewAccount();
 
-        await expect(addNewAccount).rejects.toThrow('No HD keyring found');
+        await expect(addNewAccount).rejects.toThrow(
+          'KeyringController - Keyring not found.',
+        );
       });
     });
 
@@ -4168,6 +4195,61 @@ describe('MetaMaskController', () => {
         });
       });
     });
+
+    describe('generateNewMnemonicAndAddToVault', () => {
+      it('generates a new hd keyring instance', async () => {
+        const password = 'what-what-what';
+        jest.spyOn(metamaskController, 'getBalance').mockResolvedValue('0x0');
+
+        await metamaskController.createNewVaultAndRestore(password, TEST_SEED);
+
+        const previousKeyrings =
+          metamaskController.keyringController.state.keyrings;
+
+        await metamaskController.addNewMnemonicToVault(TEST_SEED_ALT);
+
+        const currentKeyrings =
+          metamaskController.keyringController.state.keyrings;
+
+        expect(
+          currentKeyrings.filter((kr) => kr.type === 'HD Key Tree'),
+        ).toHaveLength(2);
+        expect(currentKeyrings).toHaveLength(previousKeyrings.length + 1);
+      });
+    });
+
+    describe('addNewMnemonicToVault', () => {
+      it('generates a new hd keyring instance with a mnemonic', async () => {
+        const password = 'what-what-what';
+        jest.spyOn(metamaskController, 'getBalance').mockResolvedValue('0x0');
+
+        await metamaskController.createNewVaultAndRestore(password, TEST_SEED);
+
+        const previousKeyrings =
+          metamaskController.keyringController.state.keyrings;
+
+        await metamaskController.addNewMnemonicToVault(TEST_SEED_ALT);
+
+        const currentKeyrings =
+          metamaskController.keyringController.state.keyrings;
+
+        const newlyAddedKeyringId =
+          metamaskController.keyringController.state.keyringsMetadata[
+            metamaskController.keyringController.state.keyringsMetadata.length -
+              1
+          ].id;
+
+        const newSRP = Buffer.from(
+          await metamaskController.getSeedPhrase(password, newlyAddedKeyringId),
+        ).toString('utf8');
+
+        expect(
+          currentKeyrings.filter((kr) => kr.type === 'HD Key Tree'),
+        ).toHaveLength(2);
+        expect(currentKeyrings).toHaveLength(previousKeyrings.length + 1);
+        expect(newSRP).toStrictEqual(TEST_SEED_ALT);
+      });
+    });
   });
 
   describe('onFeatureFlagResponseReceived', () => {
diff --git a/builds.yml b/builds.yml
index dde73817d489..656558a1f73b 100644
--- a/builds.yml
+++ b/builds.yml
@@ -65,6 +65,7 @@ buildTypes:
       - build-flask
       - keyring-snaps
       - solana
+      - multi-srp
       - solana-swaps
     env:
       - INFURA_FLASK_PROJECT_ID
@@ -140,6 +141,10 @@ features:
   solana:
     assets:
       - ./{app,shared,ui}/**/solana/**
+  multi-srp:
+    assets:
+      # srp-list is a special case and is used in the srp recovery flow now.
+      - ./{app,shared,ui}/**/multi-srp/(?!.*srp-list)/**
   solana-swaps:
 
 # Env variables that are required for all types of builds
diff --git a/lavamoat/browserify/beta/policy.json b/lavamoat/browserify/beta/policy.json
index c5c71601da26..ad1ce2d6ed7f 100644
--- a/lavamoat/browserify/beta/policy.json
+++ b/lavamoat/browserify/beta/policy.json
@@ -1381,7 +1381,8 @@
         "@metamask/keyring-controller>@metamask/eth-simple-keyring": true,
         "@metamask/keyring-controller>@metamask/utils": true,
         "@metamask/name-controller>async-mutex": true,
-        "@metamask/keyring-controller>ethereumjs-wallet": true
+        "@metamask/keyring-controller>ethereumjs-wallet": true,
+        "@metamask/keyring-controller>ulid": true
       }
     },
     "@metamask/eth-snap-keyring>@metamask/keyring-internal-snap-client": {
@@ -5719,6 +5720,13 @@
         "@ensdomains/content-hash>multicodec>uint8arrays>multiformats": true
       }
     },
+    "@metamask/keyring-controller>ulid": {
+      "globals": {
+        "console.error": true,
+        "crypto": true,
+        "define": true
+      }
+    },
     "react-markdown>unified": {
       "packages": {
         "react-markdown>unified>bail": true,
diff --git a/lavamoat/browserify/flask/policy.json b/lavamoat/browserify/flask/policy.json
index 2bc83d9e9cef..52471ddc9330 100644
--- a/lavamoat/browserify/flask/policy.json
+++ b/lavamoat/browserify/flask/policy.json
@@ -1389,7 +1389,8 @@
         "@metamask/keyring-controller>@metamask/eth-simple-keyring": true,
         "@metamask/keyring-controller>@metamask/utils": true,
         "@metamask/name-controller>async-mutex": true,
-        "@metamask/keyring-controller>ethereumjs-wallet": true
+        "@metamask/keyring-controller>ethereumjs-wallet": true,
+        "@metamask/keyring-controller>ulid": true
       }
     },
     "@metamask/eth-snap-keyring>@metamask/keyring-internal-snap-client": {
@@ -5765,6 +5766,13 @@
         "@ensdomains/content-hash>multicodec>uint8arrays>multiformats": true
       }
     },
+    "@metamask/keyring-controller>ulid": {
+      "globals": {
+        "console.error": true,
+        "crypto": true,
+        "define": true
+      }
+    },
     "react-markdown>unified": {
       "packages": {
         "react-markdown>unified>bail": true,
diff --git a/lavamoat/browserify/main/policy.json b/lavamoat/browserify/main/policy.json
index c5c71601da26..ad1ce2d6ed7f 100644
--- a/lavamoat/browserify/main/policy.json
+++ b/lavamoat/browserify/main/policy.json
@@ -1381,7 +1381,8 @@
         "@metamask/keyring-controller>@metamask/eth-simple-keyring": true,
         "@metamask/keyring-controller>@metamask/utils": true,
         "@metamask/name-controller>async-mutex": true,
-        "@metamask/keyring-controller>ethereumjs-wallet": true
+        "@metamask/keyring-controller>ethereumjs-wallet": true,
+        "@metamask/keyring-controller>ulid": true
       }
     },
     "@metamask/eth-snap-keyring>@metamask/keyring-internal-snap-client": {
@@ -5719,6 +5720,13 @@
         "@ensdomains/content-hash>multicodec>uint8arrays>multiformats": true
       }
     },
+    "@metamask/keyring-controller>ulid": {
+      "globals": {
+        "console.error": true,
+        "crypto": true,
+        "define": true
+      }
+    },
     "react-markdown>unified": {
       "packages": {
         "react-markdown>unified>bail": true,
diff --git a/lavamoat/browserify/mmi/policy.json b/lavamoat/browserify/mmi/policy.json
index 81964ddaf4d6..6087c1c10a4c 100644
--- a/lavamoat/browserify/mmi/policy.json
+++ b/lavamoat/browserify/mmi/policy.json
@@ -1473,7 +1473,8 @@
         "@metamask/keyring-controller>@metamask/eth-simple-keyring": true,
         "@metamask/keyring-controller>@metamask/utils": true,
         "@metamask/name-controller>async-mutex": true,
-        "@metamask/keyring-controller>ethereumjs-wallet": true
+        "@metamask/keyring-controller>ethereumjs-wallet": true,
+        "@metamask/keyring-controller>ulid": true
       }
     },
     "@metamask/eth-snap-keyring>@metamask/keyring-internal-snap-client": {
@@ -5811,6 +5812,13 @@
         "@ensdomains/content-hash>multicodec>uint8arrays>multiformats": true
       }
     },
+    "@metamask/keyring-controller>ulid": {
+      "globals": {
+        "console.error": true,
+        "crypto": true,
+        "define": true
+      }
+    },
     "react-markdown>unified": {
       "packages": {
         "react-markdown>unified>bail": true,
diff --git a/lavamoat/browserify/policy-override.json b/lavamoat/browserify/policy-override.json
index 3ece77c837c6..8dfc11cf6026 100644
--- a/lavamoat/browserify/policy-override.json
+++ b/lavamoat/browserify/policy-override.json
@@ -163,6 +163,11 @@
       "packages": {
         "immer": true
       }
+    },
+    "@metamask/keyring-controller>ulid": {
+      "globals": {
+        "crypto": true
+      }
     }
   }
 }
diff --git a/lavamoat/build-system/policy.json b/lavamoat/build-system/policy.json
index bae075d9b3fb..b7409df2f24c 100644
--- a/lavamoat/build-system/policy.json
+++ b/lavamoat/build-system/policy.json
@@ -1795,6 +1795,7 @@
         "chokidar>anymatch": true,
         "chokidar>braces": true,
         "chokidar>fsevents": true,
+        "tsx>fsevents": true,
         "eslint>glob-parent": true,
         "chokidar>is-binary-path": true,
         "del>is-glob": true,
@@ -3364,6 +3365,13 @@
         "gulp-watch>chokidar>fsevents>node-pre-gyp": true
       }
     },
+    "tsx>fsevents": {
+      "globals": {
+        "console.assert": true,
+        "process.platform": true
+      },
+      "native": true
+    },
     "@lavamoat/allow-scripts>@npmcli/run-script>node-gyp>npmlog>gauge": {
       "builtin": {
         "util.format": true
diff --git a/package.json b/package.json
index 5550176ccf44..989cf17a4cce 100644
--- a/package.json
+++ b/package.json
@@ -316,7 +316,7 @@
     "@metamask/json-rpc-engine": "^10.0.0",
     "@metamask/json-rpc-middleware-stream": "^8.0.4",
     "@metamask/keyring-api": "^16.1.0",
-    "@metamask/keyring-controller": "^19.0.4",
+    "@metamask/keyring-controller": "npm:@metamask-previews/keyring-controller@19.0.5-preview-553ac792",
     "@metamask/keyring-internal-api": "^4.0.1",
     "@metamask/keyring-snap-client": "^3.0.3",
     "@metamask/logging-controller": "^6.0.0",
diff --git a/test/data/mock-send-state.json b/test/data/mock-send-state.json
index 124487281ca9..6eb9e5e897d1 100644
--- a/test/data/mock-send-state.json
+++ b/test/data/mock-send-state.json
@@ -269,6 +269,20 @@
         "accounts": ["0xeb9e64b93097bc15f01f13eae97015c57ab64823"]
       }
     ],
+    "keyringsMetadata": [
+      {
+        "id": "01JKAF3DSGM3AB87EM9N0K41AJ",
+        "name": ""
+      },
+      {
+        "id": "01JKAF3KP7VPAG0YXEDTDRB6ZV",
+        "name": ""
+      },
+      {
+        "id": "01JKAF3PJ247KAM6C03G5Q0NP8",
+        "name": ""
+      }
+    ],
     "identities": {
       "0x0dcd5d886577d5081b0c52e242ef29e70be3e7bc": {
         "address": "0x0dcd5d886577d5081b0c52e242ef29e70be3e7bc",
diff --git a/test/data/mock-state.json b/test/data/mock-state.json
index f0f7365133ee..69e376434b8b 100644
--- a/test/data/mock-state.json
+++ b/test/data/mock-state.json
@@ -625,6 +625,28 @@
         "accounts": ["0xca8f1F0245530118D0cf14a06b01Daf8f76Cf281"]
       }
     ],
+    "keyringsMetadata": [
+      {
+        "id": "01JKAF3DSGM3AB87EM9N0K41AJ",
+        "name": ""
+      },
+      {
+        "id": "01JKAF3KP7VPAG0YXEDTDRB6ZV",
+        "name": ""
+      },
+      {
+        "id": "01JKAF3PJ247KAM6C03G5Q0NP8",
+        "name": ""
+      },
+      {
+        "id": "01JKAF3SSWRQK818R830GE8PHX",
+        "name": ""
+      },
+      {
+        "id": "01JKAF3WYGWF7JX6PC4YYVSK2Q",
+        "name": ""
+      }
+    ],
     "identities": {
       "0x0dcd5d886577d5081b0c52e242ef29e70be3e7bc": {
         "address": "0x0dcd5d886577d5081b0c52e242ef29e70be3e7bc",
diff --git a/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-background-state.json b/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-background-state.json
index 9f636ad802ca..2a7020dfd304 100644
--- a/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-background-state.json
+++ b/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-background-state.json
@@ -121,6 +121,7 @@
   "KeyringController": {
     "isUnlocked": true,
     "keyrings": "object",
+    "keyringsMetadata": "object",
     "vault": "string",
     "encryptionKey": "string",
     "encryptionSalt": "string"
diff --git a/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-ui-state.json b/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-ui-state.json
index c1bdabf2ace9..93a6730e8f0d 100644
--- a/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-ui-state.json
+++ b/test/e2e/tests/metrics/state-snapshots/errors-after-init-opt-in-ui-state.json
@@ -165,6 +165,7 @@
     },
     "networkConfigurationsByChainId": "object",
     "keyrings": "object",
+    "keyringsMetadata": "object",
     "selectedAddress": "string",
     "usePhishDetect": true,
     "dismissSeedBackUpReminder": true,
diff --git a/test/jest/mock-store.js b/test/jest/mock-store.js
index 9b68f248507b..aa01c33ffbdf 100644
--- a/test/jest/mock-store.js
+++ b/test/jest/mock-store.js
@@ -365,6 +365,16 @@ export const createSwapsMockStore = () => {
           accounts: ['0xd85a4b6a394794842887b8284293d69163007bbb'],
         },
       ],
+      keyringsMetadata: [
+        {
+          id: '01JKAF3DSGM3AB87EM9N0K41AJ',
+          name: '',
+        },
+        {
+          id: '01JKAF3KP7VPAG0YXEDTDRB6ZV',
+          name: '',
+        },
+      ],
       ...mockNetworkState({
         chainId: CHAIN_IDS.MAINNET,
         ticker: CURRENCY_SYMBOLS.ETH,
diff --git a/ui/store/actions.test.js b/ui/store/actions.test.js
index c34238b3432b..85415636881a 100644
--- a/ui/store/actions.test.js
+++ b/ui/store/actions.test.js
@@ -39,6 +39,16 @@ const defaultState = {
         balance: '0x0',
       },
     },
+    keyrings: [
+      {
+        type: 'HD Key Tree',
+        accounts: [
+          {
+            address: '0xFirstAddress',
+          },
+        ],
+      },
+    ],
     ...mockNetworkState({ chainId: CHAIN_IDS.MAINNET }),
     internalAccounts: {
       accounts: {
diff --git a/ui/store/actions.ts b/ui/store/actions.ts
index 12629a03f7eb..0efa72948674 100644
--- a/ui/store/actions.ts
+++ b/ui/store/actions.ts
@@ -67,7 +67,6 @@ import {
   ///: END:ONLY_INCLUDE_IF
   getInternalAccountByAddress,
   getSelectedInternalAccount,
-  getInternalAccounts,
 } from '../selectors';
 import {
   getSelectedNetworkClientId,
@@ -451,17 +450,13 @@ export function addNewAccount(): ThunkAction<
   AnyAction
 > {
   log.debug(`background.addNewAccount`);
-  return async (dispatch, getState) => {
-    const oldAccounts = getInternalAccounts(getState()).filter(
-      (internalAccount) =>
-        internalAccount.metadata.keyring.type === KeyringTypes.hd,
-    );
+  return async (dispatch) => {
     dispatch(showLoadingIndication());
 
     let addedAccountAddress;
     try {
       addedAccountAddress = await submitRequestToBackground('addNewAccount', [
-        Object.keys(oldAccounts).length,
+        1,
       ]);
     } catch (error) {
       dispatch(displayWarning(error));
diff --git a/yarn.lock b/yarn.lock
index 4a975d9bc7aa..de2605716c1b 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -5563,6 +5563,29 @@ __metadata:
   languageName: node
   linkType: hard
 
+"@metamask/keyring-controller@npm:@metamask-previews/keyring-controller@19.0.5-preview-553ac792":
+  version: 19.0.5-preview-553ac792
+  resolution: "@metamask-previews/keyring-controller@npm:19.0.5-preview-553ac792"
+  dependencies:
+    "@ethereumjs/util": "npm:^8.1.0"
+    "@keystonehq/metamask-airgapped-keyring": "npm:^0.14.1"
+    "@metamask/base-controller": "npm:^7.1.1"
+    "@metamask/browser-passworder": "npm:^4.3.0"
+    "@metamask/eth-hd-keyring": "npm:^7.0.4"
+    "@metamask/eth-sig-util": "npm:^8.0.0"
+    "@metamask/eth-simple-keyring": "npm:^6.0.5"
+    "@metamask/keyring-api": "npm:^16.1.0"
+    "@metamask/keyring-internal-api": "npm:^4.0.1"
+    "@metamask/message-manager": "npm:^12.0.0"
+    "@metamask/utils": "npm:^11.1.0"
+    async-mutex: "npm:^0.5.0"
+    ethereumjs-wallet: "npm:^1.0.1"
+    immer: "npm:^9.0.6"
+    ulid: "npm:^2.3.0"
+  checksum: 10/99ba73ea9ef68cd448bfedccc85fd043e605e685066888911ec56d72d27752d6056aec7e7834fb4c1e50d69ee7b663ed8db7ea5b84d73b6a4764aa06792314c1
+  languageName: node
+  linkType: hard
+
 "@metamask/keyring-controller@npm:^19.0.4":
   version: 19.0.4
   resolution: "@metamask/keyring-controller@npm:19.0.4"
@@ -5638,13 +5661,13 @@ __metadata:
   linkType: hard
 
 "@metamask/keyring-utils@npm:^1.2.0":
-  version: 1.3.1
-  resolution: "@metamask/keyring-utils@npm:1.3.1"
+  version: 1.3.0
+  resolution: "@metamask/keyring-utils@npm:1.3.0"
   dependencies:
     "@metamask/superstruct": "npm:^3.1.0"
-    "@metamask/utils": "npm:^11.1.0"
+    "@metamask/utils": "npm:^11.0.1"
     bitcoin-address-validation: "npm:^2.2.3"
-  checksum: 10/9072791320108218875bdbcc7823a4ab4d8c29675deab3163373d31a997ae6fc23995a74ffa085e06534d14b72c2edb5e7192d371cd1ef69ac7fae70fa50d8d0
+  checksum: 10/b2789e9870e5c83653de7631b641fef1f7718d5cedb16e88ea04ab77cca29d077325be2d67b53b01e3eaddcb09c7d03ead15dd0f52dfef72cab6b19f27e76dc0
   languageName: node
   linkType: hard
 
@@ -7806,9 +7829,9 @@ __metadata:
   linkType: hard
 
 "@scure/base@npm:^1.0.0, @scure/base@npm:^1.1.1, @scure/base@npm:^1.1.3, @scure/base@npm:~1.1.0, @scure/base@npm:~1.1.3, @scure/base@npm:~1.1.6":
-  version: 1.1.7
-  resolution: "@scure/base@npm:1.1.7"
-  checksum: 10/fc50ffaab36cb46ff9fa4dc5052a06089ab6a6707f63d596bb34aaaec76173c9a564ac312a0b981b5e7a5349d60097b8878673c75d6cbfc4da7012b63a82099b
+  version: 1.1.9
+  resolution: "@scure/base@npm:1.1.9"
+  checksum: 10/f0ab7f687bbcdee2a01377fe3cd808bf63977999672751295b6a92625d5322f4754a96d40f6bd579bc367aad48ecf8a4e6d0390e70296e6ded1076f52adb16bb
   languageName: node
   linkType: hard
 
@@ -13308,13 +13331,13 @@ __metadata:
   linkType: hard
 
 "axios@npm:^1.1.3":
-  version: 1.7.4
-  resolution: "axios@npm:1.7.4"
+  version: 1.7.7
+  resolution: "axios@npm:1.7.7"
   dependencies:
     follow-redirects: "npm:^1.15.6"
     form-data: "npm:^4.0.0"
     proxy-from-env: "npm:^1.1.0"
-  checksum: 10/7a1429be1e3d0c2e1b96d4bba4d113efbfabc7c724bed107beb535c782c7bea447ff634886b0c7c43395a264d085450d009eb1154b5f38a8bae49d469fdcbc61
+  checksum: 10/7f875ea13b9298cd7b40fd09985209f7a38d38321f1118c701520939de2f113c4ba137832fe8e3f811f99a38e12c8225481011023209a77b0c0641270e20cde1
   languageName: node
   linkType: hard
 
@@ -15896,14 +15919,11 @@ __metadata:
   linkType: hard
 
 "crc-32@npm:^1.2.0":
-  version: 1.2.0
-  resolution: "crc-32@npm:1.2.0"
-  dependencies:
-    exit-on-epipe: "npm:~1.0.1"
-    printj: "npm:~1.1.0"
+  version: 1.2.2
+  resolution: "crc-32@npm:1.2.2"
   bin:
-    crc32: ./bin/crc32.njs
-  checksum: 10/10c648c986b005ed0ea8393bb0d1ccb99e7a102505b136d313dee6abe204aa682d9bb9bc6fd180f9cd98ef92aa029964f1cc96a2a85eb50507dedd9ead1a262f
+    crc32: bin/crc32.njs
+  checksum: 10/824f696a5baaf617809aa9cd033313c8f94f12d15ebffa69f10202480396be44aef9831d900ab291638a8022ed91c360696dd5b1ba691eb3f34e60be8835b7c3
   languageName: node
   linkType: hard
 
@@ -19183,13 +19203,6 @@ __metadata:
   languageName: node
   linkType: hard
 
-"exit-on-epipe@npm:~1.0.1":
-  version: 1.0.1
-  resolution: "exit-on-epipe@npm:1.0.1"
-  checksum: 10/b180aa277aec5bef2609b34e5876061f421a1f81bf343beb213c4d60b382ddcb6b83012833f0ba329d6bc38042685c8d89b1c52ea495b9b6327948ea80627398
-  languageName: node
-  linkType: hard
-
 "exit@npm:^0.1.2":
   version: 0.1.2
   resolution: "exit@npm:0.1.2"
@@ -26630,7 +26643,7 @@ __metadata:
     "@metamask/json-rpc-engine": "npm:^10.0.0"
     "@metamask/json-rpc-middleware-stream": "npm:^8.0.4"
     "@metamask/keyring-api": "npm:^16.1.0"
-    "@metamask/keyring-controller": "npm:^19.0.4"
+    "@metamask/keyring-controller": "npm:@metamask-previews/keyring-controller@19.0.5-preview-553ac792"
     "@metamask/keyring-internal-api": "npm:^4.0.1"
     "@metamask/keyring-snap-client": "npm:^3.0.3"
     "@metamask/logging-controller": "npm:^6.0.0"
@@ -30326,15 +30339,6 @@ __metadata:
   languageName: node
   linkType: hard
 
-"printj@npm:~1.1.0":
-  version: 1.1.2
-  resolution: "printj@npm:1.1.2"
-  bin:
-    printj: ./bin/printj.njs
-  checksum: 10/45376a5ee7ef2e0d7ff0b4fecc893d73995a332e63d7e0622a544fe662c8213d22f0c9750e627c6d732a7d7a543266be960e6cd51cf19485cce87cf80468bb41
-  languageName: node
-  linkType: hard
-
 "prismjs@npm:^1.27.0":
   version: 1.29.0
   resolution: "prismjs@npm:1.29.0"
@@ -36072,6 +36076,15 @@ __metadata:
   languageName: node
   linkType: hard
 
+"ulid@npm:^2.3.0":
+  version: 2.3.0
+  resolution: "ulid@npm:2.3.0"
+  bin:
+    ulid: ./bin/cli.js
+  checksum: 10/11d7dd35072b863effb1249f66fb03070142a625610f00e5afd99af7e909b5de9cc7ebca6ede621a6bb1b7479b2489d6f064db6742b55c14bff6496ac60f290f
+  languageName: node
+  linkType: hard
+
 "umd@npm:3.0.3, umd@npm:^3.0.0":
   version: 3.0.3
   resolution: "umd@npm:3.0.3"