diff --git a/src/api/entities/Identity/__tests__/index.ts b/src/api/entities/Identity/__tests__/index.ts
index 1f745b238b..7aef999013 100644
--- a/src/api/entities/Identity/__tests__/index.ts
+++ b/src/api/entities/Identity/__tests__/index.ts
@@ -8,7 +8,15 @@ import { Entity, Identity } from '~/api/entities';
 import { Context } from '~/base';
 import { tokensByTrustedClaimIssuer, tokensHeldByDid } from '~/middleware/queries';
 import { dsMockUtils, entityMockUtils } from '~/testUtils/mocks';
-import { Order, Role, RoleType, TickerOwnerRole, TokenOwnerRole, VenueOwnerRole } from '~/types';
+import {
+  Order,
+  PortfolioCustodianRole,
+  Role,
+  RoleType,
+  TickerOwnerRole,
+  TokenOwnerRole,
+  VenueOwnerRole,
+} from '~/types';
 import * as utilsModule from '~/utils';
 
 jest.mock(
@@ -25,6 +33,18 @@ jest.mock(
   '~/api/entities/Venue',
   require('~/testUtils/mocks/entities').mockVenueModule('~/api/entities/Venue')
 );
+jest.mock(
+  '~/api/entities/NumberedPortfolio',
+  require('~/testUtils/mocks/entities').mockNumberedPortfolioModule(
+    '~/api/entities/NumberedPortfolio'
+  )
+);
+jest.mock(
+  '~/api/entities/DefaultPortfolio',
+  require('~/testUtils/mocks/entities').mockDefaultPortfolioModule(
+    '~/api/entities/DefaultPortfolio'
+  )
+);
 
 describe('Identity class', () => {
   let context: Context;
@@ -154,6 +174,43 @@ describe('Identity class', () => {
       expect(hasRole).toBe(false);
     });
 
+    test('hasRole should check whether the Identity has the Portfolio Custodian role', async () => {
+      const did = 'someDid';
+      const identity = new Identity({ did }, context);
+      const portfolioId = {
+        did,
+        number: new BigNumber(1),
+      };
+      let role: PortfolioCustodianRole = { type: RoleType.PortfolioCustodian, portfolioId };
+
+      entityMockUtils.configureMocks({
+        numberedPortfolioOptions: { custodian: new Identity({ did }, context) },
+        defaultPortfolioOptions: { custodian: new Identity({ did }, context) },
+      });
+
+      let hasRole = await identity.hasRole(role);
+
+      expect(hasRole).toBe(true);
+
+      identity.did = 'otherDid';
+
+      hasRole = await identity.hasRole(role);
+
+      expect(hasRole).toBe(false);
+
+      role = { type: RoleType.PortfolioCustodian, portfolioId: { did } };
+
+      hasRole = await identity.hasRole(role);
+
+      expect(hasRole).toBe(false);
+
+      identity.did = did;
+
+      hasRole = await identity.hasRole(role);
+
+      expect(hasRole).toBe(true);
+    });
+
     test('hasRole should throw an error if the role is not recognized', () => {
       const identity = new Identity({ did: 'someDid' }, context);
       const type = 'Fake' as RoleType;
diff --git a/src/api/entities/Identity/index.ts b/src/api/entities/Identity/index.ts
index 681065e230..b98e73dbae 100644
--- a/src/api/entities/Identity/index.ts
+++ b/src/api/entities/Identity/index.ts
@@ -2,7 +2,14 @@ import { u64 } from '@polkadot/types';
 import { BigNumber } from 'bignumber.js';
 import { CddStatus, DidRecord } from 'polymesh-types/types';
 
-import { Entity, SecurityToken, TickerReservation, Venue } from '~/api/entities';
+import {
+  DefaultPortfolio,
+  Entity,
+  NumberedPortfolio,
+  SecurityToken,
+  TickerReservation,
+  Venue,
+} from '~/api/entities';
 import { Context, PolymeshError } from '~/base';
 import { tokensByTrustedClaimIssuer, tokensHeldByDid } from '~/middleware/queries';
 import { Query } from '~/middleware/types';
@@ -10,6 +17,7 @@ import {
   Ensured,
   ErrorCode,
   isCddProviderRole,
+  isPortfolioCustodianRole,
   isTickerOwnerRole,
   isTokenOwnerRole,
   isVenueOwnerRole,
@@ -114,6 +122,22 @@ export class Identity extends Entity<UniqueIdentifiers> {
       const { owner } = await venue.details();
 
       return owner.did === did;
+    } else if (isPortfolioCustodianRole(role)) {
+      const {
+        portfolioId: { did: portfolioDid, number },
+      } = role;
+
+      let portfolio;
+
+      if (number) {
+        portfolio = new NumberedPortfolio({ did: portfolioDid, id: number }, context);
+      } else {
+        portfolio = new DefaultPortfolio({ did: portfolioDid }, context);
+      }
+
+      const custodianIdentity = await portfolio.getCustodian();
+
+      return custodianIdentity.did === did;
     }
 
     throw new PolymeshError({
diff --git a/src/testUtils/mocks/entities.ts b/src/testUtils/mocks/entities.ts
index 473175ecd1..90d3a9d307 100644
--- a/src/testUtils/mocks/entities.ts
+++ b/src/testUtils/mocks/entities.ts
@@ -20,6 +20,7 @@ import {
   Venue,
 } from '~/api/entities';
 import { ProposalDetails, ProposalStage /*, ProposalState */ } from '~/api/entities/Proposal/types';
+import { entityMockUtils } from '~/testUtils/mocks';
 import { Mocked } from '~/testUtils/types';
 import {
   AccountBalance,
@@ -134,12 +135,14 @@ interface NumberedPortfolioOptions {
   tokenBalances?: PortfolioBalance[];
   did?: string;
   exists?: boolean;
+  custodian?: Identity;
 }
 
 interface DefaultPortfolioOptions {
   isOwnedBy?: boolean;
   tokenBalances?: PortfolioBalance[];
   did?: string;
+  custodian?: Identity;
 }
 
 interface InstructionOptions {
@@ -187,8 +190,10 @@ let instructionGetLegsStub: SinonStub;
 let numberedPortfolioIsOwnedByStub: SinonStub;
 let numberedPortfolioGetTokenBalancesStub: SinonStub;
 let numberedPortfolioExistsStub: SinonStub;
+let numberedPortfolioGetCustodianStub: SinonStub;
 let defaultPortfolioIsOwnedByStub: SinonStub;
 let defaultPortfolioGetTokenBalancesStub: SinonStub;
+let defaultPortfolioGetCustodianStub: SinonStub;
 
 const MockIdentityClass = class {
   /**
@@ -438,6 +443,7 @@ const defaultNumberedPortfolioOptions: NumberedPortfolioOptions = {
   ],
   did: 'someDid',
   exists: true,
+  custodian: {} as MockIdentity,
 };
 let numberedPortfolioOptions = defaultNumberedPortfolioOptions;
 const defaultDefaultPortfolioOptions: DefaultPortfolioOptions = {
@@ -450,6 +456,7 @@ const defaultDefaultPortfolioOptions: DefaultPortfolioOptions = {
     },
   ],
   did: 'someDid',
+  custodian: {} as MockIdentity,
 };
 let defaultPortfolioOptions = defaultDefaultPortfolioOptions;
 const defaultInstructionOptions: InstructionOptions = {
@@ -551,6 +558,7 @@ function configureNumberedPortfolio(opts: NumberedPortfolioOptions): void {
     getTokenBalances: numberedPortfolioGetTokenBalancesStub.resolves(opts.tokenBalances),
     owner: { did: opts.did },
     exists: numberedPortfolioExistsStub.resolves(opts.exists),
+    getCustodian: numberedPortfolioGetCustodianStub.resolves(opts.custodian),
   } as unknown) as MockNumberedPortfolio;
 
   Object.assign(mockInstanceContainer.numberedPortfolio, numberedPortfolio);
@@ -573,6 +581,7 @@ function initNumberedPortfolio(opts?: NumberedPortfolioOptions): void {
   numberedPortfolioIsOwnedByStub = sinon.stub();
   numberedPortfolioGetTokenBalancesStub = sinon.stub();
   numberedPortfolioExistsStub = sinon.stub();
+  numberedPortfolioGetCustodianStub = sinon.stub();
 
   numberedPortfolioOptions = { ...defaultNumberedPortfolioOptions, ...opts };
 
@@ -588,6 +597,7 @@ function configureDefaultPortfolio(opts: DefaultPortfolioOptions): void {
     isOwnedBy: defaultPortfolioIsOwnedByStub.resolves(opts.isOwnedBy),
     getTokenBalances: defaultPortfolioGetTokenBalancesStub.resolves(opts.tokenBalances),
     owner: { did: opts.did },
+    getCustodian: defaultPortfolioGetCustodianStub.resolves(opts.custodian),
   } as unknown) as MockDefaultPortfolio;
 
   Object.assign(mockInstanceContainer.defaultPortfolio, defaultPortfolio);
@@ -609,6 +619,7 @@ function initDefaultPortfolio(opts?: DefaultPortfolioOptions): void {
   defaultPortfolioConstructorStub = sinon.stub();
   defaultPortfolioIsOwnedByStub = sinon.stub();
   defaultPortfolioGetTokenBalancesStub = sinon.stub();
+  defaultPortfolioGetCustodianStub = sinon.stub();
 
   defaultPortfolioOptions = { ...defaultDefaultPortfolioOptions, ...opts };
 
diff --git a/src/types/index.ts b/src/types/index.ts
index 22020d3dc4..4f7c430278 100644
--- a/src/types/index.ts
+++ b/src/types/index.ts
@@ -14,6 +14,7 @@ import {
 } from '~/api/entities';
 // import { ProposalDetails } from '~/api/entities/Proposal/types';
 import { CountryCode } from '~/generated/types';
+import { PortfolioId } from '~/types/internal';
 
 export * from '~/generated/types';
 
@@ -78,6 +79,7 @@ export enum RoleType {
   TokenOwner = 'TokenOwner',
   CddProvider = 'CddProvider',
   VenueOwner = 'VenueOwner',
+  PortfolioCustodian = 'PortfolioCustodian',
 }
 
 export interface TickerOwnerRole {
@@ -127,7 +129,24 @@ export function isVenueOwnerRole(role: Role): role is VenueOwnerRole {
   return role.type === RoleType.VenueOwner;
 }
 
-export type Role = TickerOwnerRole | TokenOwnerRole | CddProviderRole | VenueOwnerRole;
+export interface PortfolioCustodianRole {
+  type: RoleType.PortfolioCustodian;
+  portfolioId: PortfolioId;
+}
+
+/**
+ * @hidden
+ */
+export function isPortfolioCustodianRole(role: Role): role is PortfolioCustodianRole {
+  return role.type === RoleType.PortfolioCustodian;
+}
+
+export type Role =
+  | TickerOwnerRole
+  | TokenOwnerRole
+  | CddProviderRole
+  | VenueOwnerRole
+  | PortfolioCustodianRole;
 
 export enum KnownTokenType {
   EquityCommon = 'EquityCommon',