diff --git a/application/src/main/java/bisq/application/migration/MigrationService.java b/application/src/main/java/bisq/application/migration/MigrationService.java
new file mode 100644
index 0000000000..4f39f0e3c9
--- /dev/null
+++ b/application/src/main/java/bisq/application/migration/MigrationService.java
@@ -0,0 +1,46 @@
+package bisq.application.migration;
+
+import bisq.common.application.ApplicationVersion;
+import bisq.common.platform.Version;
+
+import java.io.File;
+import java.io.IOException;
+import java.nio.file.Files;
+import java.nio.file.Path;
+import java.util.concurrent.CompletableFuture;
+
+public class MigrationService {
+    static final Version VERSION_BEFORE_MIGRATION_SERVICE_INTRODUCED = new Version("2.1.1");
+    private final Path dataDir;
+    private final File dataDirVersionFile;
+
+    public MigrationService(Path dataDir) {
+        this.dataDir = dataDir;
+        this.dataDirVersionFile = dataDir.resolve("version").toFile();
+    }
+
+    public CompletableFuture<Boolean> runMigrations() {
+        Version dataDirVersion = getDataDirVersion();
+        Version appVersion = ApplicationVersion.getVersion();
+
+        if (dataDirVersion.below(appVersion)) {
+            Migrator migrator = new Migrator(appVersion, dataDir);
+            migrator.migrate();
+        }
+
+        return CompletableFuture.completedFuture(true);
+    }
+
+    Version getDataDirVersion() {
+        if (!dataDirVersionFile.exists()) {
+            return VERSION_BEFORE_MIGRATION_SERVICE_INTRODUCED;
+        }
+
+        try {
+            String version = Files.readString(dataDirVersionFile.toPath());
+            return new Version(version);
+        } catch (IOException e) {
+            throw new RuntimeException("Can't identify data dir version. This shouldn't happen.", e);
+        }
+    }
+}
diff --git a/application/src/main/java/bisq/application/migration/Migrator.java b/application/src/main/java/bisq/application/migration/Migrator.java
new file mode 100644
index 0000000000..671c9e4dc0
--- /dev/null
+++ b/application/src/main/java/bisq/application/migration/Migrator.java
@@ -0,0 +1,32 @@
+package bisq.application.migration;
+
+import bisq.application.migration.migrations.Migration;
+import bisq.common.platform.Version;
+import lombok.extern.slf4j.Slf4j;
+
+import java.nio.file.Path;
+import java.util.Collections;
+import java.util.List;
+
+@Slf4j
+public class Migrator {
+    private final Version appVersion;
+    private final Path dataDir;
+    private final List<Migration> allMigrations;
+
+    public Migrator(Version appVersion, Path dataDir) {
+        this.appVersion = appVersion;
+        this.dataDir = dataDir;
+        this.allMigrations = Collections.emptyList();
+    }
+
+    public void migrate() {
+        for (Migration migration : allMigrations) {
+            Version migrationVersion = migration.getVersion();
+            if (migrationVersion.belowOrEqual(appVersion)) {
+                log.info("Running {} migrations.", migrationVersion);
+                migration.run(dataDir);
+            }
+        }
+    }
+}
diff --git a/application/src/main/java/bisq/application/migration/migrations/Migration.java b/application/src/main/java/bisq/application/migration/migrations/Migration.java
new file mode 100644
index 0000000000..bfdf3bbb45
--- /dev/null
+++ b/application/src/main/java/bisq/application/migration/migrations/Migration.java
@@ -0,0 +1,11 @@
+package bisq.application.migration.migrations;
+
+import bisq.common.platform.Version;
+
+import java.nio.file.Path;
+
+public interface Migration {
+    void run(Path dataDir);
+
+    Version getVersion();
+}