diff --git a/frame/assets-registry/src/lib.rs b/frame/assets-registry/src/lib.rs
index a1c7e5d60c5..7c85bfee1d5 100644
--- a/frame/assets-registry/src/lib.rs
+++ b/frame/assets-registry/src/lib.rs
@@ -73,6 +73,11 @@ pub mod pallet {
 		ForeignAdminApproved,
 	}
 
+	#[derive(Debug, Clone, Copy, PartialEq, Eq, Encode, Decode, TypeInfo)]
+	pub struct ForeignMetadata {
+		pub decimals: u8,
+	}
+
 	#[pallet::pallet]
 	#[pallet::generate_store(pub(super) trait Store)]
 	pub struct Pallet<T>(_);
@@ -114,6 +119,12 @@ pub mod pallet {
 		OptionQuery,
 	>;
 
+	#[pallet::storage]
+	#[pallet::getter(fn foreign_asset_metadata)]
+	/// Mapping local asset to foreign asset metadata.
+	pub type ForeignAssetMetadata<T: Config> =
+		StorageMap<_, Blake2_128Concat, T::LocalAssetId, ForeignMetadata, OptionQuery>;
+
 	#[pallet::type_value]
 	pub fn LocalAdminOnEmpty<T: Config>() -> T::AccountId {
 		T::AccountId::default()
@@ -170,6 +181,7 @@ pub mod pallet {
 			local_asset_id: T::LocalAssetId,
 			foreign_asset_id: T::ForeignAssetId,
 		},
+		AssetMetadataUpdated(T::LocalAssetId),
 	}
 
 	#[pallet::error]
@@ -177,6 +189,7 @@ pub mod pallet {
 		OnlyAllowedForAdmins,
 		LocalAssetIdAlreadyUsed,
 		ForeignAssetIdAlreadyUsed,
+		LocalAssetIdNotFound,
 	}
 
 	#[pallet::call]
@@ -226,6 +239,24 @@ pub mod pallet {
 			});
 			Ok(().into())
 		}
+
+		#[pallet::weight(10_000)]
+		pub fn set_metadata(
+			origin: OriginFor<T>,
+			local_asset_id: T::LocalAssetId,
+			metadata: ForeignMetadata,
+		) -> DispatchResultWithPostInfo {
+			let _ = ensure_signed(origin.clone())?;
+			Self::ensure_admins_only(origin)?;
+			ensure!(
+				<LocalToForeign<T>>::contains_key(local_asset_id),
+				Error::<T>::LocalAssetIdNotFound
+			);
+
+			<ForeignAssetMetadata<T>>::insert(local_asset_id, metadata);
+			Self::deposit_event(Event::AssetMetadataUpdated(local_asset_id));
+			Ok(().into())
+		}
 	}
 
 	impl<T: Config> RemoteAssetRegistry for Pallet<T> {
diff --git a/frame/assets-registry/src/tests.rs b/frame/assets-registry/src/tests.rs
index 79e589d47e3..c1026d1eebd 100644
--- a/frame/assets-registry/src/tests.rs
+++ b/frame/assets-registry/src/tests.rs
@@ -98,3 +98,37 @@ fn approve_assets_mapping_candidate_tests() {
 		);
 	})
 }
+
+#[test]
+fn set_metadata_tests() {
+	new_test_ext().execute_with(|| {
+		let (local_asset_id, foreign_asset_id) = (0, 100);
+		assert_ok!(AssetsRegistry::set_local_admin(Origin::signed(ROOT), ALICE));
+		assert_ok!(AssetsRegistry::set_foreign_admin(Origin::signed(ROOT), BOB));
+
+		assert_noop!(
+			AssetsRegistry::set_metadata(
+				Origin::signed(ALICE),
+				local_asset_id,
+				ForeignMetadata { decimals: 12 }
+			),
+			Error::<Test>::LocalAssetIdNotFound
+		);
+
+		assert_ok!(AssetsRegistry::approve_assets_mapping_candidate(
+			Origin::signed(ALICE),
+			local_asset_id,
+			foreign_asset_id
+		));
+		assert_ok!(AssetsRegistry::approve_assets_mapping_candidate(
+			Origin::signed(BOB),
+			local_asset_id,
+			foreign_asset_id
+		));
+		assert_ok!(AssetsRegistry::set_metadata(
+			Origin::signed(ALICE),
+			local_asset_id,
+			ForeignMetadata { decimals: 12 }
+		));
+	})
+}