diff --git a/synedrion/Cargo.toml b/synedrion/Cargo.toml
index a6bc0a03..c451ed31 100644
--- a/synedrion/Cargo.toml
+++ b/synedrion/Cargo.toml
@@ -21,6 +21,7 @@ base64 = { version = "0.21", default-features = false, features = ["alloc"] }
 hashing-serializer = { version = "0.1", default-features = false }
 secrecy = { version = "0.8", default-features = false, features = ["alloc", "serde"] }
 zeroize = { version = "1.8", default-features = false, features = ["alloc", "zeroize_derive"] }
+bip32 = { version = "0.5.2", default-features = false, features = ["alloc", "secp256k1"] }
 
 # Note: `alloc` is needed for `crytpto-bigint`'s dependency `serdect` to be able
 # to serialize Uints in human-readable formats.
diff --git a/synedrion/src/curve/arithmetic.rs b/synedrion/src/curve/arithmetic.rs
index 0986795f..cd18eb3a 100644
--- a/synedrion/src/curve/arithmetic.rs
+++ b/synedrion/src/curve/arithmetic.rs
@@ -19,7 +19,10 @@ use k256::elliptic_curve::{
     FieldBytesSize,
     NonZeroScalar,
 };
-use k256::{ecdsa::VerifyingKey, Secp256k1};
+use k256::{
+    ecdsa::{SigningKey, VerifyingKey},
+    Secp256k1,
+};
 use rand_core::CryptoRngCore;
 use secrecy::{CloneableSecret, DebugSecret, SerializableSecret};
 use serde::{Deserialize, Deserializer, Serialize, Serializer};
@@ -94,6 +97,15 @@ impl Scalar {
         self.0
     }
 
+    pub fn to_signing_key(self) -> Option<SigningKey> {
+        let scalar: Option<NonZeroScalar<Secp256k1>> = NonZeroScalar::new(self.0).into();
+        Some(SigningKey::from(scalar?))
+    }
+
+    pub fn from_signing_key(sk: &SigningKey) -> Self {
+        Self(*sk.as_nonzero_scalar().as_ref())
+    }
+
     pub(crate) fn try_from_bytes(bytes: &[u8]) -> Result<Self, String> {
         let arr =
             GenericArray::<u8, FieldBytesSize<Secp256k1>>::from_exact_iter(bytes.iter().cloned())
diff --git a/synedrion/src/lib.rs b/synedrion/src/lib.rs
index 1715670d..a0a8447d 100644
--- a/synedrion/src/lib.rs
+++ b/synedrion/src/lib.rs
@@ -31,6 +31,7 @@ mod uint;
 mod www02;
 
 // Some re-exports to avoid the need for version-matching
+pub use bip32;
 pub use k256;
 pub use k256::ecdsa;
 pub use signature;
diff --git a/synedrion/src/tools/hashing.rs b/synedrion/src/tools/hashing.rs
index ce6b30eb..98ed4146 100644
--- a/synedrion/src/tools/hashing.rs
+++ b/synedrion/src/tools/hashing.rs
@@ -71,7 +71,7 @@ impl Chain for FofHasher {
 #[derive(Clone, Copy, Debug, Serialize, Deserialize, PartialEq, Eq, PartialOrd, Ord, Hash)]
 pub(crate) struct HashOutput(
     // Length of the BackendDigest output. Unfortunately we can't get it in compile-time.
-    #[serde(with = "serde_bytes::as_hex")] [u8; 32],
+    #[serde(with = "serde_bytes::as_hex")] pub(crate) [u8; 32],
 );
 
 impl AsRef<[u8]> for HashOutput {
diff --git a/synedrion/src/www02/entities.rs b/synedrion/src/www02/entities.rs
index e33b639d..f567297f 100644
--- a/synedrion/src/www02/entities.rs
+++ b/synedrion/src/www02/entities.rs
@@ -1,8 +1,10 @@
 use alloc::collections::{BTreeMap, BTreeSet};
+use alloc::vec::Vec;
 use core::fmt::Debug;
 use core::marker::PhantomData;
 
-use k256::ecdsa::VerifyingKey;
+use bip32::{DerivationPath, PrivateKey, PrivateKeyBytes, PublicKey};
+use k256::ecdsa::{SigningKey, VerifyingKey};
 use rand_core::CryptoRngCore;
 use secrecy::{ExposeSecret, Secret};
 use serde::{Deserialize, Serialize};
@@ -43,7 +45,7 @@ impl<P: SchemeParams, I: Clone + Ord + PartialEq + Debug> ThresholdKeyShare<P, I
         rng: &mut impl CryptoRngCore,
         ids: &BTreeSet<I>,
         threshold: usize,
-        signing_key: Option<&k256::ecdsa::SigningKey>,
+        signing_key: Option<&SigningKey>,
     ) -> BTreeMap<I, Self> {
         debug_assert!(threshold <= ids.len()); // TODO (#68): make the method fallible
 
@@ -170,41 +172,94 @@ impl<P: SchemeParams, I: Clone + Ord + PartialEq + Debug> ThresholdKeyShare<P, I
         }
     }
 
-    fn derive_tweak(seed: &[u8]) -> Scalar {
-        FofHasher::new_with_dst(b"key-derivation")
-            .chain_bytes(seed)
-            .finalize_to_scalar()
+    fn derive_tweaks(
+        public_key: VerifyingKey,
+        derivation_path: &DerivationPath,
+    ) -> Result<Vec<PrivateKeyBytes>, bip32::Error> {
+        let mut public_key = public_key;
+
+        // Note: deriving the initial chain code from public information. Is this okay?
+        let mut chain_code = FofHasher::new_with_dst(b"chain-code-derivation")
+            .chain_bytes(&Point::from_verifying_key(&public_key).to_compressed_array())
+            .finalize()
+            .0;
+
+        let mut tweaks = Vec::new();
+        for child_number in derivation_path.iter() {
+            let (tweak, new_chain_code) = public_key.derive_tweak(&chain_code, child_number)?;
+            public_key = public_key.derive_child(tweak)?;
+            tweaks.push(tweak);
+            chain_code = new_chain_code;
+        }
+
+        Ok(tweaks)
+    }
+
+    fn apply_tweaks_public(
+        public_key: VerifyingKey,
+        tweaks: &[PrivateKeyBytes],
+    ) -> Result<VerifyingKey, bip32::Error> {
+        let mut public_key = public_key;
+        for tweak in tweaks {
+            public_key = public_key.derive_child(*tweak)?;
+        }
+        Ok(public_key)
+    }
+
+    fn apply_tweaks_private(
+        private_key: SigningKey,
+        tweaks: &[PrivateKeyBytes],
+    ) -> Result<SigningKey, bip32::Error> {
+        let mut private_key = private_key;
+        for tweak in tweaks {
+            private_key = private_key.derive_child(*tweak)?;
+        }
+        Ok(private_key)
     }
 
     /// Return the verifying key to which the derive set of shares will correspond.
-    pub fn derived_verifying_key(&self, seed: &[u8]) -> VerifyingKey {
-        let parent = self.verifying_key_as_point();
-        let tweak = Self::derive_tweak(seed);
-        (parent + tweak.mul_by_generator())
-            .to_verifying_key()
-            .unwrap()
+    pub fn derived_verifying_key_bip32(
+        public_key: &VerifyingKey,
+        derivation_path: &DerivationPath,
+    ) -> Result<VerifyingKey, bip32::Error> {
+        let tweaks = Self::derive_tweaks(*public_key, derivation_path)?;
+        Self::apply_tweaks_public(*public_key, &tweaks)
     }
 
-    /// Deterministically derives a child share.
-    pub fn derive(&self, seed: &[u8]) -> Self {
-        let tweak = Self::derive_tweak(seed);
-        let tweak_point = tweak.mul_by_generator();
-        let secret_share = Secret::new(self.secret_share.expose_secret() + &tweak);
+    /// Deterministically derives a child share using BIP-32 standard.
+    pub fn derive_bip32(&self, derivation_path: &DerivationPath) -> Result<Self, bip32::Error> {
+        let tweaks = Self::derive_tweaks(self.verifying_key(), derivation_path)?;
+
+        // Will fail here if secret share is zero
+        let secret_share = self
+            .secret_share
+            .expose_secret()
+            .to_signing_key()
+            .ok_or(bip32::Error::Crypto)?;
+        let secret_share = Secret::new(Scalar::from_signing_key(&Self::apply_tweaks_private(
+            secret_share,
+            &tweaks,
+        )?));
+
         let public_shares = self
             .public_shares
             .clone()
             .into_iter()
-            .map(|(id, point)| (id, point + tweak_point))
-            .collect();
-
-        Self {
+            .map(|(id, point)|
+                // Will fail here if the final or one of the intermediate points is an identity
+                point.to_verifying_key().ok_or(bip32::Error::Crypto)
+                    .and_then(|vkey| Self::apply_tweaks_public(vkey, &tweaks))
+                    .map(|vkey| (id, Point::from_verifying_key(&vkey))))
+            .collect::<Result<_, _>>()?;
+
+        Ok(Self {
             owner: self.owner.clone(),
             threshold: self.threshold,
             share_ids: self.share_ids.clone(),
             secret_share,
             public_shares,
             phantom: PhantomData,
-        }
+        })
     }
 }
 
diff --git a/synedrion/tests/threshold.rs b/synedrion/tests/threshold.rs
index f2899412..65ed7e3c 100644
--- a/synedrion/tests/threshold.rs
+++ b/synedrion/tests/threshold.rs
@@ -236,14 +236,18 @@ async fn full_sequence() {
         .collect::<Vec<_>>();
 
     // Derive child shares
-    let child_key_seed = b"some derivation path";
+    let path = "m/0/2/1/4/2".parse().unwrap();
     let child_key_shares = t_key_shares
         .iter()
-        .map(|key_share| key_share.derive(child_key_seed))
+        .map(|key_share| key_share.derive_bip32(&path).unwrap())
         .collect::<Vec<_>>();
 
     // The full verifying key can be obtained both from the original key shares and child key shares
-    let child_vkey = t_key_shares[0].derived_verifying_key(child_key_seed);
+    let child_vkey = ThresholdKeyShare::<TestParams, VerifyingKey>::derived_verifying_key_bip32(
+        &t_key_shares[0].verifying_key(),
+        &path,
+    )
+    .unwrap();
     assert_eq!(child_vkey, child_key_shares[0].verifying_key());
 
     // Reshare to `n` nodes
@@ -313,7 +317,12 @@ async fn full_sequence() {
     );
 
     // Check that resharing did not change the derived child key
-    let child_vkey_after_resharing = new_t_key_shares[0].derived_verifying_key(child_key_seed);
+    let child_vkey_after_resharing =
+        ThresholdKeyShare::<TestParams, VerifyingKey>::derived_verifying_key_bip32(
+            &new_t_key_shares[0].verifying_key(),
+            &path,
+        )
+        .unwrap();
     assert_eq!(child_vkey, child_vkey_after_resharing);
 
     // Generate auxiliary data
@@ -341,13 +350,16 @@ async fn full_sequence() {
     let selected_parties = BTreeSet::from([verifiers[0], verifiers[2], verifiers[4]]);
     let selected_key_shares = vec![
         new_t_key_shares[0]
-            .derive(child_key_seed)
+            .derive_bip32(&path)
+            .unwrap()
             .to_key_share(&selected_parties),
         new_t_key_shares[2]
-            .derive(child_key_seed)
+            .derive_bip32(&path)
+            .unwrap()
             .to_key_share(&selected_parties),
         new_t_key_shares[4]
-            .derive(child_key_seed)
+            .derive_bip32(&path)
+            .unwrap()
             .to_key_share(&selected_parties),
     ];
     let selected_aux_infos = vec![