diff --git a/src/psbt.cpp b/src/psbt.cpp
index 8f2e9ab16f3..3d696da7fde 100644
--- a/src/psbt.cpp
+++ b/src/psbt.cpp
@@ -13,6 +13,8 @@
 #include <util/result.h>
 #include <util/strencodings.h>
 
+#include <algorithm>
+
 using common::PSBTError;
 
 PartiallySignedTransaction::PartiallySignedTransaction(const CMutableTransaction& tx, uint32_t version) : m_version(version)
@@ -58,13 +60,7 @@ bool PartiallySignedTransaction::Merge(const PartiallySignedTransaction& psbt)
             return false;
         }
     }
-    for (auto& xpub_pair : psbt.m_xpubs) {
-        if (!m_xpubs.contains(xpub_pair.first)) {
-            m_xpubs[xpub_pair.first] = xpub_pair.second;
-        } else {
-            m_xpubs[xpub_pair.first].insert(xpub_pair.second.begin(), xpub_pair.second.end());
-        }
-    }
+    MergeGlobalXPubs(psbt);
     if (fallback_locktime == std::nullopt && psbt.fallback_locktime != std::nullopt) fallback_locktime = psbt.fallback_locktime;
 
     // Set m_tx_modifiable only if either PSBT had it set
@@ -85,6 +81,16 @@ bool PartiallySignedTransaction::Merge(const PartiallySignedTransaction& psbt)
     return true;
 }
 
+void PartiallySignedTransaction::MergeGlobalXPubs(const PartiallySignedTransaction& psbt)
+{
+    for (const auto& [origin, xpubs] : psbt.m_xpubs) {
+        for (const CExtPubKey& xpub : xpubs) {
+            const bool known{std::ranges::any_of(m_xpubs, [&](const auto& entry) { return entry.second.contains(xpub); })};
+            if (!known) m_xpubs[origin].insert(xpub);
+        }
+    }
+}
+
 std::optional<uint32_t> PartiallySignedTransaction::ComputeTimeLock() const
 {
     if (GetVersion() >= 2) {
diff --git a/src/psbt.h b/src/psbt.h
index b0177a3e555..9a4c600eadd 100644
--- a/src/psbt.h
+++ b/src/psbt.h
@@ -1260,6 +1260,9 @@ public:
     /** Merge psbt into this. The two psbts must have the same underlying CTransaction (i.e. the
       * same actual Bitcoin transaction.) Returns true if the merge succeeded, false otherwise. */
     [[nodiscard]] bool Merge(const PartiallySignedTransaction& psbt);
+    /** Merge the global xpubs of psbt into this, keeping the existing origin for an xpub
+      * seen again with a different one, as the serialized records are keyed by xpub. */
+    void MergeGlobalXPubs(const PartiallySignedTransaction& psbt);
     bool AddInput(const PSBTInput& psbtin);
     bool AddOutput(const PSBTOutput& psbtout);
     std::optional<uint32_t> ComputeTimeLock() const;
diff --git a/src/rpc/rawtransaction.cpp b/src/rpc/rawtransaction.cpp
index 31a877b8f04..b5d9160cae0 100644
--- a/src/rpc/rawtransaction.cpp
+++ b/src/rpc/rawtransaction.cpp
@@ -1918,13 +1918,7 @@ static RPCMethod joinpsbts()
         for (const PSBTOutput& output : psbt.outputs) {
             merged_psbt.AddOutput(output);
         }
-        for (auto& xpub_pair : psbt.m_xpubs) {
-            if (!merged_psbt.m_xpubs.contains(xpub_pair.first)) {
-                merged_psbt.m_xpubs[xpub_pair.first] = xpub_pair.second;
-            } else {
-                merged_psbt.m_xpubs[xpub_pair.first].insert(xpub_pair.second.begin(), xpub_pair.second.end());
-            }
-        }
+        merged_psbt.MergeGlobalXPubs(psbt);
         merged_psbt.unknown.insert(psbt.unknown.begin(), psbt.unknown.end());
     }