diff --git a/CHANGELOG.md b/CHANGELOG.md
index b0f29ae9ef19..d7f7c5e1e483 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -52,6 +52,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 * [#12089](https://github.com/cosmos/cosmos-sdk/pull/12089) Mark the `TipDecorator` as beta, don't include it in simapp by default.
 * [#12153](https://github.com/cosmos/cosmos-sdk/pull/12153) Add a new `NewSimulationManagerFromAppModules` constructor, to simplify simulation wiring.
 * [#12187](https://github.com/cosmos/cosmos-sdk/pull/12187) Add batch operation for x/nft module.
+* [#12453](https://github.com/cosmos/cosmos-sdk/pull/12453) Add `NewInMemoryWithKeyring` function which allows the creation of in memory `keystore` instances with a specified set of existing items.
 
 ### State Machine Breaking
 
diff --git a/crypto/keyring/keyring.go b/crypto/keyring/keyring.go
index 5434a27eed62..370e0111cec4 100644
--- a/crypto/keyring/keyring.go
+++ b/crypto/keyring/keyring.go
@@ -150,7 +150,13 @@ type Options struct {
 // purposes and on-the-fly key generation.
 // Keybase options can be applied when generating this new Keybase.
 func NewInMemory(cdc codec.Codec, opts ...Option) Keyring {
-	return newKeystore(keyring.NewArrayKeyring(nil), cdc, BackendMemory, opts...)
+	return NewInMemoryWithKeyring(keyring.NewArrayKeyring(nil), cdc, opts...)
+}
+
+// NewInMemoryWithKeyring returns an in memory keyring using the specified keyring.Keyring
+// as the backing keyring.
+func NewInMemoryWithKeyring(kr keyring.Keyring, cdc codec.Codec, opts ...Option) Keyring {
+	return newKeystore(kr, cdc, BackendMemory, opts...)
 }
 
 // New creates a new instance of a keyring.
diff --git a/crypto/keyring/keyring_test.go b/crypto/keyring/keyring_test.go
index 66c326598b71..e2d994187752 100644
--- a/crypto/keyring/keyring_test.go
+++ b/crypto/keyring/keyring_test.go
@@ -21,6 +21,7 @@ import (
 	"github.com/cosmos/cosmos-sdk/crypto/keys/multisig"
 	"github.com/cosmos/cosmos-sdk/crypto/keys/secp256k1"
 	"github.com/cosmos/cosmos-sdk/crypto/types"
+	cryptotypes "github.com/cosmos/cosmos-sdk/crypto/types"
 	sdk "github.com/cosmos/cosmos-sdk/types"
 )
 
@@ -455,6 +456,49 @@ func TestInMemoryLanguage(t *testing.T) {
 	require.Equal(t, "unsupported language: only english is supported", err.Error())
 }
 
+func TestInMemoryWithKeyring(t *testing.T) {
+	priv := cryptotypes.PrivKey(secp256k1.GenPrivKey())
+	pub := priv.PubKey()
+
+	cdc := getCodec()
+	_, err := NewLocalRecord("test record", priv, pub)
+
+	multi := multisig.NewLegacyAminoPubKey(
+		1, []cryptotypes.PubKey{
+			pub,
+		},
+	)
+
+	appName := "test-app"
+
+	legacyMultiInfo, err := NewLegacyMultiInfo(appName, multi)
+	require.NoError(t, err)
+	serializedLegacyMultiInfo := MarshalInfo(legacyMultiInfo)
+
+	kb := NewInMemoryWithKeyring(keyring.NewArrayKeyring([]keyring.Item{
+		{
+			Key:         appName + ".info",
+			Data:        serializedLegacyMultiInfo,
+			Description: "test description",
+		},
+	}), cdc)
+
+	t.Run("key exists", func(t *testing.T) {
+		_, err := kb.Key(appName)
+		require.NoError(t, err)
+	})
+
+	t.Run("key deleted", func(t *testing.T) {
+		err := kb.Delete(appName)
+		require.NoError(t, err)
+
+		t.Run("key is gone", func(t *testing.T) {
+			_, err := kb.Key(appName)
+			require.Error(t, err)
+		})
+	})
+}
+
 func TestInMemoryCreateMultisig(t *testing.T) {
 	cdc := getCodec()
 	kb, err := New("keybasename", "memory", "", nil, cdc)