diff --git a/jmclient/jmclient/wallet_utils.py b/jmclient/jmclient/wallet_utils.py
index d175c76..649541f 100644
--- a/jmclient/jmclient/wallet_utils.py
+++ b/jmclient/jmclient/wallet_utils.py
@@ -1368,8 +1368,7 @@ def open_test_wallet_maybe(path, seed, max_mixdepth,
             return test_wallet_cls(storage, **kwargs)
 
     if wallet_password_stdin is True:
-        stdin = sys.stdin.read()
-        password = stdin.encode('utf-8')
+        password = read_password_stdin()
         return open_wallet(path, ask_for_password=False, password=password, mixdepth=max_mixdepth, **kwargs)
 
     return open_wallet(path, mixdepth=max_mixdepth, **kwargs)
@@ -1444,6 +1443,10 @@ def get_wallet_path(file_name, wallet_dir=None):
     return os.path.join(wallet_dir, file_name)
 
 
+def read_password_stdin():
+    return sys.stdin.read().encode('utf-8')
+
+
 def wallet_tool_main(wallet_root_path):
     """Main wallet tool script function; returned is a string (output or error)
     """
diff --git a/scripts/genwallet.py b/scripts/genwallet.py
index 369b88f..ddffaf0 100755
--- a/scripts/genwallet.py
+++ b/scripts/genwallet.py
@@ -1,33 +1,51 @@
 #!/usr/bin/env python3
 
-import sys
+# A script for noninteractively creating wallets.
+# The implementation is similar to wallet_generate_recover_bip39 in jmclient/wallet_utils.py
+
 import os
 from optparse import OptionParser
-from jmclient import load_program_config, add_base_options, SegwitWallet, SegwitLegacyWallet, create_wallet, jm_single
+from pathlib import Path
+from jmclient import (
+    load_program_config, add_base_options, SegwitWalletFidelityBonds, SegwitLegacyWallet,
+    create_wallet, jm_single, wallet_utils
+)
 from jmbase.support import get_log, jmprint
 
 log = get_log()
 
 def main():
     parser = OptionParser(
-    usage='usage: %prog [options] wallet_file_name password',
-    description='Create a wallet with the given wallet name and password.')
+        usage='usage: %prog [options] wallet_file_name [password]',
+        description='Create a wallet with the given wallet name and password.'
+    )
     add_base_options(parser)
+    parser.add_option(
+        '--recovery-seed-file',
+        dest='seed_file',
+        default=None,
+        help=('File containing a mnemonic recovery phrase. If provided, the wallet '
+              'is recovered from this seed instead of being newly generated.')
+    )
     (options, args) = parser.parse_args()
+    wallet_name = args[0]
     if options.wallet_password_stdin:
-        stdin = sys.stdin.read()
-        password = stdin.encode("utf-8")
+        password = wallet_utils.read_password_stdin()
     else:
         assert len(args) > 1, "must provide password via stdin (see --help), or as second argument."
         password = args[1].encode("utf-8")
+    seed = options.seed_file and Path(options.seed_file).read_text().rstrip()
+
     load_program_config(config_path=options.datadir)
     wallet_root_path = os.path.join(jm_single().datadir, "wallets")
-    wallet_name = os.path.join(wallet_root_path, args[0])
+    wallet_path = os.path.join(wallet_root_path, wallet_name)
     if jm_single().config.get("POLICY", "native") == "true":
-        walletclass = SegwitWallet
+        walletclass = SegwitWalletFidelityBonds
     else:
+        # Fidelity Bonds are not available for segwit legacy wallets
         walletclass = SegwitLegacyWallet
-    wallet = create_wallet(wallet_name, password, 4, walletclass)
+    entropy = seed and SegwitLegacyWallet.entropy_from_mnemonic(seed)
+    wallet = create_wallet(wallet_path, password, wallet_utils.DEFAULT_MIXDEPTH, walletclass, entropy=entropy)
     jmprint("recovery_seed:{}"
          .format(wallet.get_mnemonic_words()[0]), "important")
     wallet.close()