diff --git a/app/core/Encryptor/index.ts b/app/core/Encryptor/index.ts
index 1bef04a6e1f..89973267818 100644
--- a/app/core/Encryptor/index.ts
+++ b/app/core/Encryptor/index.ts
@@ -5,11 +5,12 @@ import {
   DERIVATION_OPTIONS_MINIMUM_OWASP2023,
   DERIVATION_OPTIONS_DEFAULT_OWASP2023,
 } from './constants';
-
+import { pbkdf2 } from './pbkdf2';
 export {
   Encryptor,
   ENCRYPTION_LIBRARY,
   LEGACY_DERIVATION_OPTIONS,
   DERIVATION_OPTIONS_MINIMUM_OWASP2023,
   DERIVATION_OPTIONS_DEFAULT_OWASP2023,
+  pbkdf2,
 };
diff --git a/app/core/Encryptor/pbkdf2.test.ts b/app/core/Encryptor/pbkdf2.test.ts
new file mode 100644
index 00000000000..e679b63b7f0
--- /dev/null
+++ b/app/core/Encryptor/pbkdf2.test.ts
@@ -0,0 +1,76 @@
+import { stringToBytes } from '@metamask/utils';
+import { pbkdf2 } from './pbkdf2';
+import { NativeModules } from 'react-native';
+
+const mockPassword = 'mockPassword';
+const mockSalt = '00112233445566778899001122334455';
+
+describe('pbkdf2', () => {
+  afterEach(() => {
+    jest.restoreAllMocks();
+  });
+  
+  it('uses the native implementation of pbkdf2 with main aes', async () => {
+    NativeModules.Aes.pbkdf2 = jest
+      .fn()
+      .mockImplementation(() =>
+        Promise.resolve(
+          'd5217329ae279885bbfe1f25ac3aacc9adabc3c9c0b9bdbaa1c095c8b03dcad0d703f96a4fa453c960a9a3e540c585fd7e6406edae20b995dcef6a0883919457',
+        ),
+      );
+
+    const mockPasswordBytes = stringToBytes(mockPassword);
+    const mockSaltBytes = stringToBytes(mockSalt);
+    const mockIterations = 2048;
+    const mockKeyLength = 64; // 512 bits
+
+    await expect(
+      pbkdf2(mockPasswordBytes, mockSaltBytes, mockIterations, mockKeyLength),
+    ).resolves.toBeDefined();
+  });
+
+  it('throws on native module errors', async () => {
+    NativeModules.Aes.pbkdf2 = jest
+      .fn()
+      .mockRejectedValue(new Error('Native module error'));
+
+    const mockPasswordBytes = stringToBytes('password');
+    const mockSaltBytes = stringToBytes('salt');
+
+    await expect(
+      pbkdf2(mockPasswordBytes, mockSaltBytes, 2048, 64),
+    ).rejects.toThrow('Native module error');
+  });
+
+  it('does not fail when empty password', async () => {
+    NativeModules.Aes.pbkdf2 = jest
+      .fn()
+      .mockImplementation(() =>
+        Promise.resolve(
+          '0000000000000000000000000000000000000000000000000000000000000000',
+        ),
+      );
+
+    const mockPasswordBytes = stringToBytes('');
+    const mockSaltBytes = stringToBytes(mockSalt);
+
+    const result = await pbkdf2(mockPasswordBytes, mockSaltBytes, 2048, 64);
+    expect(result).toBeDefined();
+  });
+
+  it('does not fail when empty salt', async () => {
+    NativeModules.Aes.pbkdf2 = jest
+      .fn()
+      .mockImplementation(() =>
+        Promise.resolve(
+          'f347723a89a783c4de6a65d6a066d0e9a9c13319f8389f97d0566c79d87b6f80',
+        ),
+      );
+
+    const mockPasswordBytes = stringToBytes(mockPassword);
+    const mockSaltBytes = stringToBytes('');
+
+    const result = await pbkdf2(mockPasswordBytes, mockSaltBytes, 2048, 64);
+    expect(result).toBeDefined();
+  });
+});
diff --git a/app/core/Encryptor/pbkdf2.ts b/app/core/Encryptor/pbkdf2.ts
new file mode 100644
index 00000000000..e89b16b9fed
--- /dev/null
+++ b/app/core/Encryptor/pbkdf2.ts
@@ -0,0 +1,33 @@
+import { bytesToString, hexToBytes } from '@metamask/utils';
+import { NativeModules } from 'react-native';
+import { ShaAlgorithm } from './constants';
+import { bytesLengthToBitsLength } from '../../util/bytes';
+
+/**
+ * Derives a key using PBKDF2.
+ *
+ * @param password - The password used to generate the key.
+ * @param salt - The salt used during key generation.
+ * @param iterations - The number of iterations used during key generation.
+ * @param keyLength - The length (in bytes) of the key to generate.
+ * @returns The generated key.
+ */
+const pbkdf2 = async (
+  password: Uint8Array,
+  salt: Uint8Array,
+  iterations: number,
+  keyLength: number,
+): Promise<Uint8Array> => {
+  const Aes = NativeModules.Aes;
+  const derivedKey = await Aes.pbkdf2(
+    bytesToString(password),
+    bytesToString(salt),
+    iterations,
+    bytesLengthToBitsLength(keyLength),
+    ShaAlgorithm.Sha512,
+  );
+
+  return hexToBytes(derivedKey);
+};
+
+export { pbkdf2 };
diff --git a/app/core/Engine/Engine.ts b/app/core/Engine/Engine.ts
index 9c6415f7fe4..a5776bd0f4d 100644
--- a/app/core/Engine/Engine.ts
+++ b/app/core/Engine/Engine.ts
@@ -46,6 +46,7 @@ import {
   AcceptOptions,
   ApprovalController,
 } from '@metamask/approval-controller';
+import HDKeyring from '@metamask/eth-hd-keyring';
 import { SelectedNetworkController } from '@metamask/selected-network-controller';
 import {
   PermissionController,
@@ -80,7 +81,7 @@ import {
   LedgerMobileBridge,
   LedgerTransportMiddleware,
 } from '@metamask/eth-ledger-bridge-keyring';
-import { Encryptor, LEGACY_DERIVATION_OPTIONS } from '../Encryptor';
+import { Encryptor, LEGACY_DERIVATION_OPTIONS, pbkdf2 } from '../Encryptor';
 import {
   isMainnetByChainId,
   fetchEstimatedMultiLayerL1Fee,
@@ -522,6 +523,13 @@ export class Engine {
 
     additionalKeyrings.push(ledgerKeyringBuilder);
 
+    const hdKeyringBuilder = () =>
+      new HDKeyring({
+        cryptographicFunctions: { pbkdf2Sha512: pbkdf2 },
+      });
+    hdKeyringBuilder.type = HDKeyring.type;
+    additionalKeyrings.push(hdKeyringBuilder);
+
     ///: BEGIN:ONLY_INCLUDE_IF(keyring-snaps)
     const snapKeyringBuildMessenger = this.controllerMessenger.getRestricted({
       name: 'SnapKeyringBuilder',
diff --git a/app/util/bytes.test.ts b/app/util/bytes.test.ts
new file mode 100644
index 00000000000..ba324f781e3
--- /dev/null
+++ b/app/util/bytes.test.ts
@@ -0,0 +1,10 @@
+import { bytesLengthToBitsLength } from './bytes';
+
+describe('bytesLengthToBitsLength', () => {
+  it('converts bytes length to bits length', () => {
+    expect(bytesLengthToBitsLength(1)).toBe(8);
+    expect(bytesLengthToBitsLength(2)).toBe(16);
+    expect(bytesLengthToBitsLength(32)).toBe(256);
+    expect(bytesLengthToBitsLength(0)).toBe(0);
+  });
+});
diff --git a/app/util/bytes.ts b/app/util/bytes.ts
index 3d046a30889..8101a52fc6a 100644
--- a/app/util/bytes.ts
+++ b/app/util/bytes.ts
@@ -13,3 +13,13 @@ export default function byteArrayToHex(value: Uint8Array): string {
   }
   return '0x' + result.join('');
 }
+
+/**
+ * Converts bytes length to bits length
+ *
+ * @param bytesLength - Bytes length to convert
+ * @returns Bits length
+ */
+export function bytesLengthToBitsLength(bytesLength: number): number {
+  return bytesLength * 8;
+}
diff --git a/package.json b/package.json
index a9a7609b4f7..16e6b345cb5 100644
--- a/package.json
+++ b/package.json
@@ -150,6 +150,7 @@
     "@metamask/composable-controller": "^3.0.0",
     "@metamask/controller-utils": "^11.3.0",
     "@metamask/design-tokens": "^4.0.0",
+    "@metamask/eth-hd-keyring": "^9.0.0",
     "@metamask/eth-json-rpc-filters": "^8.0.0",
     "@metamask/eth-json-rpc-middleware": "^11.0.2",
     "@metamask/eth-ledger-bridge-keyring": "^6.0.0",
diff --git a/patches/@metamask+keyring-controller+18.0.0.patch b/patches/@metamask+keyring-controller+18.0.0.patch
new file mode 100644
index 00000000000..c395747a377
--- /dev/null
+++ b/patches/@metamask+keyring-controller+18.0.0.patch
@@ -0,0 +1,14 @@
+diff --git a/node_modules/@metamask/keyring-controller/dist/KeyringController.cjs b/node_modules/@metamask/keyring-controller/dist/KeyringController.cjs
+index 8529ba1..77871be 100644
+--- a/node_modules/@metamask/keyring-controller/dist/KeyringController.cjs
++++ b/node_modules/@metamask/keyring-controller/dist/KeyringController.cjs
+@@ -1379,7 +1379,8 @@ async function _KeyringController_newKeyring(type, data) {
+         if (!keyring.generateRandomMnemonic) {
+             throw new Error(constants_1.KeyringControllerError.UnsupportedGenerateRandomMnemonic);
+         }
+-        keyring.generateRandomMnemonic();
++        // This patch can be removed once all the keyrings types are updated across the monorepo, the work is in progress atm
++        await keyring.generateRandomMnemonic();
+         await keyring.addAccounts(1);
+     }
+     await __classPrivateFieldGet(this, _KeyringController_instances, "m", _KeyringController_checkForDuplicate).call(this, type, await keyring.getAccounts());
diff --git a/yarn.lock b/yarn.lock
index d862de7e7b6..39421afcb56 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -4255,6 +4255,18 @@
     "@metamask/utils" "^9.2.1"
     ethereum-cryptography "^2.1.2"
 
+"@metamask/eth-hd-keyring@^9.0.0":
+  version "9.0.0"
+  resolved "https://registry.yarnpkg.com/@metamask/eth-hd-keyring/-/eth-hd-keyring-9.0.0.tgz#cba58308af5cfb9b7b1b958eeea380ec9c798e64"
+  integrity sha512-dhvirCCWmFGd0HyiEmho0Zwdl2g86kLA+K78f3uHnV1PV0ELKsMgRqlcA8OuXlrz0jnGQPDRNFXGG6/yFyyLlg==
+  dependencies:
+    "@ethereumjs/util" "^8.1.0"
+    "@metamask/eth-sig-util" "^8.0.0"
+    "@metamask/key-tree" "^10.0.0"
+    "@metamask/scure-bip39" "^2.1.1"
+    "@metamask/utils" "^9.2.1"
+    ethereum-cryptography "^2.1.2"
+
 "@metamask/eth-json-rpc-filters@^8.0.0":
   version "8.0.0"
   resolved "https://registry.yarnpkg.com/@metamask/eth-json-rpc-filters/-/eth-json-rpc-filters-8.0.0.tgz#fd0ca224dc198e270e142c1f2007e05cacb5f16a"
@@ -4548,6 +4560,17 @@
     "@metamask/utils" "^10.0.0"
     readable-stream "^3.6.2"
 
+"@metamask/key-tree@^10.0.0":
+  version "10.0.0"
+  resolved "https://registry.yarnpkg.com/@metamask/key-tree/-/key-tree-10.0.0.tgz#58eb9b7ba2b92a5ffa170ce4efdd236e5ac7e891"
+  integrity sha512-U95FwOOg4d61uJp1x2g0MH66eOtjLwsthZiBGMgP3PYMgdOb4exHynBCFqZ6wxxQbYGdDyBjC6USVRT7idkGKw==
+  dependencies:
+    "@metamask/scure-bip39" "^2.1.1"
+    "@metamask/utils" "^10.0.1"
+    "@noble/curves" "^1.2.0"
+    "@noble/hashes" "^1.3.2"
+    "@scure/base" "^1.0.0"
+
 "@metamask/key-tree@^9.0.0", "@metamask/key-tree@^9.1.2":
   version "9.1.2"
   resolved "https://registry.yarnpkg.com/@metamask/key-tree/-/key-tree-9.1.2.tgz#3f89fc7990c395be3aa9c3e6e045d3d28768149b"