diff --git a/lib/core/src/Cardano/Pool/Metadata.hs b/lib/core/src/Cardano/Pool/Metadata.hs
index 145bfe7380e..d165b7cd6bd 100644
--- a/lib/core/src/Cardano/Pool/Metadata.hs
+++ b/lib/core/src/Cardano/Pool/Metadata.hs
@@ -15,6 +15,7 @@
 module Cardano.Pool.Metadata
     ( -- * Types
       StakePoolMetadata (..)
+    , sameStakePoolMetadata
     , StakePoolTicker
 
       -- * Fetching metadata
@@ -119,6 +120,12 @@ data StakePoolMetadata = StakePoolMetadata
     -- ^ Bech32-encoded address.
     } deriving (Eq, Show, Generic)
 
+-- | Returns 'True' iff metadata is exactly equal, modulo 'PoolOwner'.
+sameStakePoolMetadata :: StakePoolMetadata -> StakePoolMetadata -> Bool
+sameStakePoolMetadata a b = a { owner = same } == b { owner = same }
+  where
+    same = PoolOwner mempty
+
 -- | Very short name for a stake pool.
 newtype StakePoolTicker = StakePoolTicker { unStakePoolTicker :: Text }
     deriving stock (Generic, Show, Eq)
diff --git a/lib/core/src/Cardano/Pool/Metrics.hs b/lib/core/src/Cardano/Pool/Metrics.hs
index b8b8fa68ecf..e60eea8e856 100644
--- a/lib/core/src/Cardano/Pool/Metrics.hs
+++ b/lib/core/src/Cardano/Pool/Metrics.hs
@@ -34,6 +34,9 @@ module Cardano.Pool.Metrics
     , combineMetrics
     , calculatePerformance
 
+      -- * Associating metadata
+    , associateMetadata
+
       -- * Logging
     , StakePoolLayerMsg (..)
     )
@@ -54,6 +57,7 @@ import Cardano.Pool.Metadata
     , StakePoolMetadata (..)
     , getRegistryZipUrl
     , getStakePoolMetadata
+    , sameStakePoolMetadata
     )
 import Cardano.Wallet.Logging
     ( logTrace )
@@ -285,7 +289,7 @@ newStakePoolLayer db@DBLayer{..} nl tr = StakePoolLayer
                         (Map.fromList $ zip poolIds owners)
                         (zip owners' metas)
                 mapM_ (logTrace tr . fst) res
-                pure (map snd res)
+                pure $ map snd res
 
     (block0, bp) = staticBlockchainParameters nl
     epochLength = bp ^. #getEpochLength
@@ -548,7 +552,7 @@ associateMetadata poolOwners ownerMeta =
         [] -> (MsgMetadataMissing pid, Nothing)
         metas' -> (MsgMetadataMultiple pid metas', Nothing)
 
-    sameMeta (_, a) (_, b) = a == b
+    sameMeta (_, a) (_, b) = sameStakePoolMetadata a b
 
 {-------------------------------------------------------------------------------
                                     Logging
diff --git a/lib/core/test/unit/Cardano/Pool/MetricsSpec.hs b/lib/core/test/unit/Cardano/Pool/MetricsSpec.hs
index 297360bf4cc..291db5d1ac2 100644
--- a/lib/core/test/unit/Cardano/Pool/MetricsSpec.hs
+++ b/lib/core/test/unit/Cardano/Pool/MetricsSpec.hs
@@ -10,8 +10,15 @@ module Cardano.Pool.MetricsSpec (spec) where
 
 import Prelude
 
+import Cardano.Pool.Metadata
+    ( StakePoolMetadata (..), sameStakePoolMetadata )
 import Cardano.Pool.Metrics
-    ( Block (..), calculatePerformance, combineMetrics )
+    ( Block (..)
+    , StakePoolLayerMsg (..)
+    , associateMetadata
+    , calculatePerformance
+    , combineMetrics
+    )
 import Cardano.Wallet.Primitive.Types
     ( BlockHeader (..)
     , Coin (..)
@@ -24,8 +31,12 @@ import Cardano.Wallet.Primitive.Types
     , flatSlot
     , fromFlatSlot
     )
+import Cardano.Wallet.Unsafe
+    ( unsafeFromText )
 import Data.Function
     ( (&) )
+import Data.List
+    ( sort )
 import Data.Map.Strict
     ( Map )
 import Data.Quantity
@@ -33,7 +44,7 @@ import Data.Quantity
 import Data.Word
     ( Word32, Word64 )
 import Test.Hspec
-    ( Spec, describe, it, shouldBe )
+    ( Spec, describe, it, shouldBe, shouldContain, shouldSatisfy )
 import Test.QuickCheck
     ( Arbitrary (..)
     , NonNegative (..)
@@ -54,6 +65,7 @@ import Test.QuickCheck.Arbitrary.Generic
 
 import qualified Data.ByteString.Char8 as B8
 import qualified Data.Map.Strict as Map
+import qualified Data.Text.Encoding as T
 
 spec :: Spec
 spec = do
@@ -72,6 +84,8 @@ spec = do
         describe "golden test cases" $ do
             performanceGoldens
 
+    associateMetadataSpec
+
 {-------------------------------------------------------------------------------
                                 Properties
 -------------------------------------------------------------------------------}
@@ -227,3 +241,69 @@ instance Arbitrary PoolRegistrationCertificate where
     arbitrary = PoolRegistrationCertificate <$> arbitrary <*> arbitrary
     shrink (PoolRegistrationCertificate p o) =
         uncurry PoolRegistrationCertificate <$> shrink (p, o)
+
+{-------------------------------------------------------------------------------
+                                   Unit tests
+-------------------------------------------------------------------------------}
+
+associateMetadataSpec :: Spec
+associateMetadataSpec = describe "associateMetadata" $ do
+    let mkMetadata owner@(PoolOwner bs) tckr = StakePoolMetadata
+            { owner = owner
+            , ticker = unsafeFromText tckr
+            , name = tckr
+            , description = Just tckr
+            , homepage = tckr
+            , pledgeAddress = tckr
+            }
+
+    it "works in sunny day case" $ do
+        let owner = PoolOwner "a"
+        let md = mkMetadata owner "AAAA"
+        let pid = PoolId "1"
+
+        let res = associateMetadata
+                (Map.fromList [(pid, [owner])])
+                [(owner, Just md)]
+
+        res `shouldBe` [(MsgMetadataUsing pid owner md, Just md)]
+
+    it "missing metadata" $ do
+        let res = associateMetadata
+                (Map.fromList [(PoolId "1", [PoolOwner "a"])])
+                [(PoolOwner "a", Nothing)]
+
+        res `shouldBe` [(MsgMetadataMissing (PoolId "1"), Nothing)]
+
+    it "duplicate metadata" $ do
+        let mda = mkMetadata (PoolOwner "a") "AAAA"
+        let mdb = mkMetadata (PoolOwner "b") "AAAA"
+        let [(msg, res)] = associateMetadata
+                (Map.fromList [(PoolId "1", [PoolOwner "a", PoolOwner "b"])])
+                [ (PoolOwner "a", Just mda)
+                , (PoolOwner "b", Just mdb)
+                ]
+
+        case msg of
+            MsgMetadataUsing pid owner md -> do
+                pid `shouldBe` PoolId "1"
+                [PoolOwner "a", PoolOwner "b"] `shouldContain` [owner]
+                md `shouldSatisfy` sameStakePoolMetadata mda
+                md `shouldSatisfy` sameStakePoolMetadata mdb
+            _ -> fail $ "wrong log message " ++ show msg
+
+        fmap (sameStakePoolMetadata mda) res `shouldBe` Just True
+
+    it "inconsistent metadata" $ do
+        let mda = mkMetadata (PoolOwner "a") "AAAA"
+        let mdb = mkMetadata (PoolOwner "b") "BBBB"
+
+        let res = associateMetadata
+                (Map.fromList [(PoolId "1", [PoolOwner "a", PoolOwner "b"])])
+                [ (PoolOwner "a", Just mda)
+                , (PoolOwner "b", Just mdb)
+                ]
+
+        res `shouldBe`
+            [( MsgMetadataMultiple (PoolId "1")
+                [(PoolOwner "a", mda), (PoolOwner "b", mdb)], Nothing)]