diff --git a/matrix_sdk_crypto/src/store/mod.rs b/matrix_sdk_crypto/src/store/mod.rs
index 478cb709..0753e672 100644
--- a/matrix_sdk_crypto/src/store/mod.rs
+++ b/matrix_sdk_crypto/src/store/mod.rs
@@ -39,6 +39,7 @@
 
 pub mod caches;
 mod memorystore;
+mod pickle_key;
 #[cfg(not(target_arch = "wasm32"))]
 #[cfg(feature = "sqlite_cryptostore")]
 pub(crate) mod sqlite;
diff --git a/matrix_sdk_crypto/src/store/pickle_key.rs b/matrix_sdk_crypto/src/store/pickle_key.rs
new file mode 100644
index 00000000..4398f1fe
--- /dev/null
+++ b/matrix_sdk_crypto/src/store/pickle_key.rs
@@ -0,0 +1,154 @@
+// Copyright 2020 The Matrix.org Foundation C.I.C.
+//
+// Licensed under the Apache License, Version 2.0 (the "License");
+// you may not use this file except in compliance with the License.
+// You may obtain a copy of the License at
+//
+//     http://www.apache.org/licenses/LICENSE-2.0
+//
+// Unless required by applicable law or agreed to in writing, software
+// distributed under the License is distributed on an "AS IS" BASIS,
+// WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+// See the License for the specific language governing permissions and
+// limitations under the License.
+
+#![allow(dead_code)]
+
+use aes_gcm::{
+    aead::{generic_array::GenericArray, Aead, NewAead},
+    Aes256Gcm,
+};
+use getrandom::getrandom;
+use hmac::Hmac;
+use pbkdf2::pbkdf2;
+use sha2::Sha256;
+use zeroize::{Zeroize, Zeroizing};
+
+use serde::{Deserialize, Serialize};
+
+const VERSION: u8 = 1;
+const KEY_SIZE: usize = 32;
+const NONCE_SIZE: usize = 12;
+const KDF_SALT_SIZE: usize = 32;
+const KDF_ROUNDS: u32 = 10000;
+
+/// An encrypted version of our pickle key, this can be safely stored in a
+/// database.
+#[derive(Debug, Serialize, Deserialize, PartialEq)]
+pub struct EncryptedPickleKey {
+    /// The version of the encrypted pickle.
+    pub version: u8,
+    /// The salt that was used when the passphrase was expanded into a AES key.
+    pub kdf_salt: Vec<u8>,
+    /// The nonce that was used to encrypt the pickle key.
+    pub nonce: Vec<u8>,
+    /// The encrypted pickle key.
+    pub ciphertext: Vec<u8>,
+}
+
+/// A pickle key that will be used to encrypt all the private keys for Olm.
+///
+/// Olm uses AES256 to encrypt accounts, sessions, inbound group sessions. We
+/// also implement our own pickling for the cross-signing types using
+/// AES256-GCM so the key sizes match.
+#[derive(Debug, Zeroize, PartialEq)]
+pub struct PickleKey {
+    version: u8,
+    aes256_key: Vec<u8>,
+}
+
+impl PickleKey {
+    /// Generate a new random pickle key.
+    pub fn new() -> Self {
+        let mut key = vec![0u8; KEY_SIZE];
+        getrandom(&mut key).expect("Can't generate new pickle key");
+
+        Self {
+            version: VERSION,
+            aes256_key: key,
+        }
+    }
+
+    fn expand_key(passphrase: &str, salt: &[u8]) -> Zeroizing<Vec<u8>> {
+        let mut key = Zeroizing::from(vec![0u8; KEY_SIZE]);
+        pbkdf2::<Hmac<Sha256>>(passphrase.as_bytes(), &salt, KDF_ROUNDS, &mut *key);
+        key
+    }
+
+    /// Encrypt and export our pickle key using the given passphrase.
+    ///
+    /// # Arguments
+    ///
+    /// * `passphrase` - The passphrase that should be used to encrypt the
+    /// pickle key.
+    pub fn encrypt(&self, passphrase: &str) -> EncryptedPickleKey {
+        let mut salt = vec![0u8; KDF_SALT_SIZE];
+        getrandom(&mut salt).expect("Can't generate new random pickle key");
+
+        let key = PickleKey::expand_key(passphrase, &salt);
+        let key = GenericArray::from_slice(key.as_ref());
+        let cipher = Aes256Gcm::new(&key);
+
+        let mut nonce = vec![0u8; NONCE_SIZE];
+        getrandom(&mut nonce).expect("Can't generate new random nonce for the pickle key");
+
+        let ciphertext = cipher
+            .encrypt(
+                &GenericArray::from_slice(nonce.as_ref()),
+                self.aes256_key.as_slice(),
+            )
+            .expect("Can't encrypt pickle key");
+
+        EncryptedPickleKey {
+            version: self.version,
+            kdf_salt: salt,
+            nonce,
+            ciphertext,
+        }
+    }
+
+    /// Restore a pickle key from an encrypted export.
+    ///
+    /// # Arguments
+    ///
+    /// * `passphrase` - The passphrase that should be used to encrypt the
+    /// pickle key.
+    ///
+    /// * `encrypted` - The exported and encrypted version of the pickle key.
+    pub fn from_encrypted(passphrase: &str, encrypted: EncryptedPickleKey) -> Self {
+        let key = PickleKey::expand_key(passphrase, &encrypted.kdf_salt);
+        let key = GenericArray::from_slice(key.as_ref());
+        let cipher = Aes256Gcm::new(&key);
+        let nonce = GenericArray::from_slice(&encrypted.nonce);
+
+        let decrypted_key = cipher
+            .decrypt(nonce, encrypted.ciphertext.as_ref())
+            .expect("Can't decrypt pickle");
+
+        Self {
+            version: encrypted.version,
+            aes256_key: decrypted_key,
+        }
+    }
+}
+
+#[cfg(test)]
+mod test {
+    use super::PickleKey;
+
+    #[test]
+    fn generating() {
+        PickleKey::new();
+    }
+
+    #[test]
+    fn encrypting() {
+        let passphrase = "it's a secret to everybody";
+        let pickle_key = PickleKey::new();
+
+        let encrypted = pickle_key.encrypt(passphrase);
+        let decrypted = PickleKey::from_encrypted(passphrase, encrypted);
+
+        assert_eq!(pickle_key, decrypted);
+    }
+}