diff --git a/packages/keyring-api/CHANGELOG.md b/packages/keyring-api/CHANGELOG.md
index f4f6387bb..bdd923ebe 100644
--- a/packages/keyring-api/CHANGELOG.md
+++ b/packages/keyring-api/CHANGELOG.md
@@ -7,6 +7,10 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+### Added
+
+- Add `KeyringType.MpcMoney` keyring type ([#671](https://github.com/MetaMask/accounts/pull/671))
+
 ## [24.2.0]
 
 ### Added
diff --git a/packages/keyring-api/src/v2/api/keyring-type.ts b/packages/keyring-api/src/v2/api/keyring-type.ts
index 473b64420..929654b3a 100644
--- a/packages/keyring-api/src/v2/api/keyring-type.ts
+++ b/packages/keyring-api/src/v2/api/keyring-type.ts
@@ -49,6 +49,12 @@ export enum KeyringType {
    */
   Money = 'money',
 
+  /**
+   * Represents a keyring that uses Multi-Party Computation (MPC) for key
+   * management and signing, dedicated to money accounts.
+   */
+  MpcMoney = 'mpc-money',
+
   /**
    * Represents a watch-only keyring that holds accounts imported by address,
    * without any signing capability.
diff --git a/packages/keyring-api/src/v2/api/keyring.test-d.ts b/packages/keyring-api/src/v2/api/keyring.test-d.ts
index 2f987582f..5d8074b49 100644
--- a/packages/keyring-api/src/v2/api/keyring.test-d.ts
+++ b/packages/keyring-api/src/v2/api/keyring.test-d.ts
@@ -24,6 +24,7 @@ import type { ImportPrivateKeyFormat } from './private-key';
 // Test KeyringType enum
 expectAssignable<KeyringType>(KeyringType.Hd);
 expectAssignable<KeyringType>(KeyringType.Money);
+expectAssignable<KeyringType>(KeyringType.MpcMoney);
 expectAssignable<KeyringType>(KeyringType.Mpc);
 expectAssignable<KeyringType>(KeyringType.PrivateKey);
 expectAssignable<KeyringType>(KeyringType.Qr);