diff --git a/src/wallet/wallet.cpp b/src/wallet/wallet.cpp
index 45f5542cad..c37bf0860c 100644
--- a/src/wallet/wallet.cpp
+++ b/src/wallet/wallet.cpp
@@ -3830,42 +3830,8 @@ std::shared_ptr<CWallet> CWallet::CreateWalletFromFile(interfaces::Chain& chain,
         }
     }
 
-    int prev_version = walletInstance->GetVersion();
-    if (gArgs.GetBoolArg("-upgradewallet", fFirstRun))
-    {
-        int nMaxVersion = gArgs.GetArg("-upgradewallet", 0);
-        if (nMaxVersion == 0) // the -upgradewallet without argument case
-        {
-            walletInstance->WalletLogPrintf("Performing wallet upgrade to %i\n", FEATURE_LATEST);
-            nMaxVersion = FEATURE_LATEST;
-            walletInstance->SetMinVersion(FEATURE_LATEST); // permanently upgrade the wallet immediately
-        }
-        else
-            walletInstance->WalletLogPrintf("Allowing wallet upgrade up to %i\n", nMaxVersion);
-        if (nMaxVersion < walletInstance->GetVersion())
-        {
-            error = _("Cannot downgrade wallet").translated;
-            return nullptr;
-        }
-        walletInstance->SetMaxVersion(nMaxVersion);
-    }
-
-    // Upgrade to HD if explicit upgrade
-    if (gArgs.GetBoolArg("-upgradewallet", false)) {
-        LOCK(walletInstance->cs_wallet);
-
-        // Do not upgrade versions to any version between HD_SPLIT and FEATURE_PRE_SPLIT_KEYPOOL unless already supporting HD_SPLIT
-        int max_version = walletInstance->GetVersion();
-        if (!walletInstance->CanSupportFeature(FEATURE_HD_SPLIT) && max_version >= FEATURE_HD_SPLIT && max_version < FEATURE_PRE_SPLIT_KEYPOOL) {
-            error = _("Cannot upgrade a non HD split wallet without upgrading to support pre split keypool. Please use -upgradewallet=169900 or -upgradewallet with no version specified.").translated;
-            return nullptr;
-        }
-
-        for (auto spk_man : walletInstance->GetActiveScriptPubKeyMans()) {
-            if (!spk_man->Upgrade(prev_version, error)) {
-                return nullptr;
-            }
-        }
+    if (!UpgradeWallet(walletInstance, fFirstRun, error, warnings)) {
+        return nullptr;
     }
 
     if (fFirstRun)
@@ -4129,6 +4095,48 @@ const CAddressBookData* CWallet::FindAddressBookEntry(const CTxDestination& dest
     return &address_book_it->second;
 }
 
+bool CWallet::UpgradeWallet(std::shared_ptr<CWallet> walletInstance, bool fFirstRun, std::string& error, std::vector<std::string>& warnings)
+{
+    int prev_version = walletInstance->GetVersion();
+    if (gArgs.GetBoolArg("-upgradewallet", fFirstRun))
+    {
+        int nMaxVersion = gArgs.GetArg("-upgradewallet", 0);
+        if (nMaxVersion == 0) // the -upgradewallet without argument case
+        {
+            walletInstance->WalletLogPrintf("Performing wallet upgrade to %i\n", FEATURE_LATEST);
+            nMaxVersion = FEATURE_LATEST;
+            walletInstance->SetMinVersion(FEATURE_LATEST); // permanently upgrade the wallet immediately
+        }
+        else
+            walletInstance->WalletLogPrintf("Allowing wallet upgrade up to %i\n", nMaxVersion);
+        if (nMaxVersion < walletInstance->GetVersion())
+        {
+            error = _("Cannot downgrade wallet").translated;
+            return false;
+        }
+        walletInstance->SetMaxVersion(nMaxVersion);
+    }
+
+    // Upgrade to HD if explicit upgrade
+    if (gArgs.GetBoolArg("-upgradewallet", false)) {
+        LOCK(walletInstance->cs_wallet);
+
+        // Do not upgrade versions to any version between HD_SPLIT and FEATURE_PRE_SPLIT_KEYPOOL unless already supporting HD_SPLIT
+        int max_version = walletInstance->GetVersion();
+        if (!walletInstance->CanSupportFeature(FEATURE_HD_SPLIT) && max_version >= FEATURE_HD_SPLIT && max_version < FEATURE_PRE_SPLIT_KEYPOOL) {
+            error = _("Cannot upgrade a non HD split wallet without upgrading to support pre split keypool. Please use -upgradewallet=169900 or -upgradewallet with no version specified.").translated;
+            return false;
+        }
+
+        for (auto spk_man : walletInstance->GetActiveScriptPubKeyMans()) {
+            if (!spk_man->Upgrade(prev_version, error)) {
+                return false;
+            }
+        }
+    }
+    return true;
+}
+
 void CWallet::postInitProcess()
 {
     auto locked_chain = chain().lock();
diff --git a/src/wallet/wallet.h b/src/wallet/wallet.h
index 6c54c72e76..776187fcac 100644
--- a/src/wallet/wallet.h
+++ b/src/wallet/wallet.h
@@ -1175,6 +1175,9 @@ public:
         LogPrintf(("%s " + fmt).c_str(), GetDisplayName(), parameters...);
     };
 
+    /** Upgrade the wallet */
+    static bool UpgradeWallet(std::shared_ptr<CWallet> wallet, bool first_run, std::string& error, std::vector<std::string>& warnings);
+
     //! Returns all unique ScriptPubKeyMans in m_internal_spk_managers and m_external_spk_managers
     std::set<ScriptPubKeyMan*> GetActiveScriptPubKeyMans() const;