diff --git a/substrate/frame/assets/src/lib.rs b/substrate/frame/assets/src/lib.rs
index 5c1370ed28..5fe167df3f 100644
--- a/substrate/frame/assets/src/lib.rs
+++ b/substrate/frame/assets/src/lib.rs
@@ -144,7 +144,7 @@ use sp_runtime::{
 	traits::{AtLeast32BitUnsigned, Zero, StaticLookup, Saturating, CheckedSub, CheckedAdd, Bounded}
 };
 use codec::HasCompact;
-use frame_support::{ensure, dispatch::{DispatchError, DispatchResult}};
+use frame_support::pallet_prelude::*;
 use frame_support::traits::{Currency, ReservableCurrency, BalanceStatus::Reserved, StoredMap};
 use frame_support::traits::tokens::{WithdrawConsequence, DepositConsequence, fungibles};
 use frame_system::Config as SystemConfig;
@@ -154,10 +154,6 @@ pub use pallet::*;
 
 #[frame_support::pallet]
 pub mod pallet {
-	use frame_support::{
-		dispatch::DispatchResult,
-		pallet_prelude::*,
-	};
 	use frame_system::pallet_prelude::*;
 	use super::*;
 
diff --git a/substrate/frame/assets/src/tests.rs b/substrate/frame/assets/src/tests.rs
index b8eb2e40f8..c2cf9acf29 100644
--- a/substrate/frame/assets/src/tests.rs
+++ b/substrate/frame/assets/src/tests.rs
@@ -19,7 +19,7 @@
 
 use super::*;
 use crate::{Error, mock::*};
-use sp_runtime::TokenError;
+use sp_runtime::{TokenError, traits::ConvertInto};
 use frame_support::{assert_ok, assert_noop, traits::Currency};
 use pallet_balances::Error as BalancesError;
 
@@ -699,3 +699,29 @@ fn force_asset_status_should_work(){
 		assert_eq!(Assets::total_supply(0), 200);
 	});
 }
+
+#[test]
+fn balance_conversion_should_work() {
+	new_test_ext().execute_with(|| {
+		use frame_support::traits::tokens::BalanceConversion;
+
+		let id = 42;
+		assert_ok!(Assets::force_create(Origin::root(), id, 1, true, 10));
+		let not_sufficient = 23;
+		assert_ok!(Assets::force_create(Origin::root(), not_sufficient, 1, false, 10));
+
+		assert_eq!(
+			BalanceToAssetBalance::<Balances, Test, ConvertInto>::to_asset_balance(100, 1234),
+			Err(ConversionError::AssetMissing)
+		);
+		assert_eq!(
+			BalanceToAssetBalance::<Balances, Test, ConvertInto>::to_asset_balance(100, not_sufficient),
+			Err(ConversionError::AssetNotSufficient)
+		);
+		// 10 / 1 == 10 -> the conversion should 10x the value
+		assert_eq!(
+			BalanceToAssetBalance::<Balances, Test, ConvertInto>::to_asset_balance(100, id),
+			Ok(100 * 10)
+		);
+	});
+}
diff --git a/substrate/frame/assets/src/types.rs b/substrate/frame/assets/src/types.rs
index afd6b536cf..478905eb68 100644
--- a/substrate/frame/assets/src/types.rs
+++ b/substrate/frame/assets/src/types.rs
@@ -20,6 +20,10 @@
 use super::*;
 use frame_support::pallet_prelude::*;
 
+use frame_support::traits::{fungible, tokens::BalanceConversion};
+use sp_runtime::{FixedPointNumber, FixedPointOperand, FixedU128};
+use sp_runtime::traits::Convert;
+
 pub(super) type DepositBalanceOf<T, I = ()> =
 	<<T as Config<I>>::Currency as Currency<<T as SystemConfig>::AccountId>>::Balance;
 
@@ -177,3 +181,58 @@ impl From<TransferFlags> for DebitFlags {
 		}
 	}
 }
+
+/// Possible errors when converting between external and asset balances.
+#[derive(Eq, PartialEq, Copy, Clone, RuntimeDebug, Encode, Decode)]
+pub enum ConversionError {
+	/// The external minimum balance must not be zero.
+	MinBalanceZero,
+	/// The asset is not present in storage.
+	AssetMissing,
+	/// The asset is not sufficient and thus does not have a reliable `min_balance` so it cannot be converted.
+	AssetNotSufficient,
+}
+
+// Type alias for `frame_system`'s account id.
+type AccountIdOf<T> = <T as frame_system::Config>::AccountId;
+// This pallet's asset id and balance type.
+type AssetIdOf<T, I> = <T as Config<I>>::AssetId;
+type AssetBalanceOf<T, I> = <T as Config<I>>::Balance;
+// Generic fungible balance type.
+type BalanceOf<F, T> = <F as fungible::Inspect<AccountIdOf<T>>>::Balance;
+
+/// Converts a balance value into an asset balance based on the ratio between the fungible's
+/// minimum balance and the minimum asset balance.
+pub struct BalanceToAssetBalance<F, T, CON, I = ()>(PhantomData<(F, T, CON, I)>);
+impl<F, T, CON, I> BalanceConversion<BalanceOf<F, T>, AssetIdOf<T, I>, AssetBalanceOf<T, I>>
+for BalanceToAssetBalance<F, T, CON, I>
+where
+	F: fungible::Inspect<AccountIdOf<T>>,
+	T: Config<I>,
+	I: 'static,
+	CON: Convert<BalanceOf<F, T>, AssetBalanceOf<T, I>>,
+	BalanceOf<F, T>: FixedPointOperand + Zero,
+	AssetBalanceOf<T, I>: FixedPointOperand + Zero,
+{
+	type Error = ConversionError;
+
+	/// Convert the given balance value into an asset balance based on the ratio between the fungible's
+	/// minimum balance and the minimum asset balance.
+	///
+	/// Will return `Err` if the asset is not found, not sufficient or the fungible's minimum balance is zero.
+	fn to_asset_balance(
+		balance: BalanceOf<F, T>,
+		asset_id: AssetIdOf<T, I>,
+	) -> Result<AssetBalanceOf<T, I>, ConversionError> {
+		let asset = Asset::<T, I>::get(asset_id).ok_or(ConversionError::AssetMissing)?;
+		// only sufficient assets have a min balance with reliable value
+		ensure!(asset.is_sufficient, ConversionError::AssetNotSufficient);
+		let min_balance = CON::convert(F::minimum_balance());
+		// make sure we don't divide by zero
+		ensure!(!min_balance.is_zero(), ConversionError::MinBalanceZero);
+		let balance = CON::convert(balance);
+		// balance * asset.min_balance / min_balance
+		Ok(FixedU128::saturating_from_rational(asset.min_balance, min_balance)
+			.saturating_mul_int(balance))
+	}
+}
diff --git a/substrate/frame/support/src/traits/tokens.rs b/substrate/frame/support/src/traits/tokens.rs
index ac316b82b0..faf8ebfd30 100644
--- a/substrate/frame/support/src/traits/tokens.rs
+++ b/substrate/frame/support/src/traits/tokens.rs
@@ -25,6 +25,7 @@ pub mod nonfungible;
 pub mod nonfungibles;
 mod misc;
 pub use misc::{
-	WithdrawConsequence, DepositConsequence, ExistenceRequirement, BalanceStatus, WithdrawReasons,
+	BalanceConversion, BalanceStatus,  DepositConsequence,
+	ExistenceRequirement, WithdrawConsequence, WithdrawReasons,
 };
 pub use imbalance::Imbalance;
diff --git a/substrate/frame/support/src/traits/tokens/fungible/imbalance.rs b/substrate/frame/support/src/traits/tokens/fungible/imbalance.rs
index c084fa97fb..ab3694359c 100644
--- a/substrate/frame/support/src/traits/tokens/fungible/imbalance.rs
+++ b/substrate/frame/support/src/traits/tokens/fungible/imbalance.rs
@@ -20,7 +20,7 @@
 
 use super::*;
 use sp_std::marker::PhantomData;
-use sp_runtime::traits::Zero;
+use sp_runtime::{RuntimeDebug, traits::Zero};
 use super::misc::Balance;
 use super::balanced::Balanced;
 use crate::traits::misc::{TryDrop, SameOrOther};
@@ -39,6 +39,7 @@ pub trait HandleImbalanceDrop<Balance> {
 ///
 /// Importantly, it has a special `Drop` impl, and cannot be created outside of this module.
 #[must_use]
+#[derive(RuntimeDebug, Eq, PartialEq)]
 pub struct Imbalance<
 	B: Balance,
 	OnDrop: HandleImbalanceDrop<B>,
diff --git a/substrate/frame/support/src/traits/tokens/fungibles/imbalance.rs b/substrate/frame/support/src/traits/tokens/fungibles/imbalance.rs
index ecc415cb56..9ecdeac1d4 100644
--- a/substrate/frame/support/src/traits/tokens/fungibles/imbalance.rs
+++ b/substrate/frame/support/src/traits/tokens/fungibles/imbalance.rs
@@ -20,7 +20,7 @@
 
 use super::*;
 use sp_std::marker::PhantomData;
-use sp_runtime::traits::Zero;
+use sp_runtime::{RuntimeDebug, traits::Zero};
 use super::fungibles::{AssetId, Balance};
 use super::balanced::Balanced;
 use crate::traits::misc::{TryDrop, SameOrOther};
@@ -37,6 +37,7 @@ pub trait HandleImbalanceDrop<AssetId, Balance> {
 ///
 /// Importantly, it has a special `Drop` impl, and cannot be created outside of this module.
 #[must_use]
+#[derive(RuntimeDebug, Eq, PartialEq)]
 pub struct Imbalance<
 	A: AssetId,
 	B: Balance,
diff --git a/substrate/frame/support/src/traits/tokens/misc.rs b/substrate/frame/support/src/traits/tokens/misc.rs
index 0c55ac7918..97c111798c 100644
--- a/substrate/frame/support/src/traits/tokens/misc.rs
+++ b/substrate/frame/support/src/traits/tokens/misc.rs
@@ -167,3 +167,9 @@ impl<T: FullCodec + Copy + Eq + PartialEq + Debug> AssetId for T {}
 /// Simple amalgamation trait to collect together properties for a Balance under one roof.
 pub trait Balance: AtLeast32BitUnsigned + FullCodec + Copy + Default + Debug {}
 impl<T: AtLeast32BitUnsigned + FullCodec + Copy + Default + Debug> Balance for T {}
+
+/// Converts a balance value into an asset balance.
+pub trait BalanceConversion<InBalance, AssetId, OutBalance> {
+	type Error;
+	fn to_asset_balance(balance: InBalance, asset_id: AssetId) -> Result<OutBalance, Self::Error>;
+}