Is there any standardized way to define HD wallet accounts used to participate in multi-signature transactions? How do existing multisig wallets derive their keys from the seed it? How is Bitcoin Core doing it, as it has added support for both, HD wallets and PSBTs, recently?

  • This answer shows how you could do HD key derivation from xpubs using the new "descriptor language" added to Bitcoin Core in 0.18.
    – justinmoon
    Jul 15, 2019 at 8:54

1 Answer 1


Okay, I found this information about Copay, one of the few multisig mobile wallets:

Depending on the key derivationStrategy, addresses are derived using BIP44 or BIP45. Wallets created in Copay v1.2 and forward always use BIP44, all previous wallets use BIP45. Also note that since Copay version v1.2, non-multisig wallets use address types Pay-to-PublicKeyHash (P2PKH) while multisig wallets still use Pay-to-ScriptHash (P2SH) (key addressType at the backup):


BIP45 note: All addresses generated at BWS with BIP45 use the 'shared cosigner index' (2147483647) so Copay address indexes look like: m/45'/2147483647/0/x for main addresses and m/45'/2147483647/1/y for change addresses.

Since version 1.5, Copay uses the root m/48' for hardware multisignature wallets. This was coordinated with Ledger and Trezor teams. While the derivation path format is still similar to BIP44, the root was in order to indicate that these wallets are not discoverable by scanning addresses for funds. Address generation for multisignature wallets requires the other copayers extended public keys.

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