diff --git a/core/src/main/java/bisq/core/app/BisqExecutable.java b/core/src/main/java/bisq/core/app/BisqExecutable.java
index f5935a54067..337dc8a885d 100644
--- a/core/src/main/java/bisq/core/app/BisqExecutable.java
+++ b/core/src/main/java/bisq/core/app/BisqExecutable.java
@@ -72,7 +72,7 @@
 import static java.lang.String.format;
 
 @Slf4j
-public abstract class BisqExecutable implements GracefulShutDownHandler, BisqSetup.BisqSetupCompleteListener {
+public abstract class BisqExecutable implements GracefulShutDownHandler, BisqSetup.BisqSetupListener {
 
     private final String fullName;
     private final String scriptName;
@@ -261,7 +261,7 @@ protected void onApplicationStarted() {
 
     protected void startAppSetup() {
         BisqSetup bisqSetup = injector.getInstance(BisqSetup.class);
-        bisqSetup.addBisqSetupCompleteListener(this);
+        bisqSetup.addBisqSetupListener(this);
         bisqSetup.start();
     }
 
diff --git a/core/src/main/java/bisq/core/app/BisqHeadlessApp.java b/core/src/main/java/bisq/core/app/BisqHeadlessApp.java
index f7ece906fb7..c77acd6d7c5 100644
--- a/core/src/main/java/bisq/core/app/BisqHeadlessApp.java
+++ b/core/src/main/java/bisq/core/app/BisqHeadlessApp.java
@@ -43,7 +43,7 @@ public class BisqHeadlessApp implements HeadlessApp {
     @Setter
     private GracefulShutDownHandler gracefulShutDownHandler;
     private boolean shutDownRequested;
-    private BisqSetup bisqSetup;
+    protected BisqSetup bisqSetup;
     private CorruptedDatabaseFilesHandler corruptedDatabaseFilesHandler;
     private TradeManager tradeManager;
 
@@ -54,7 +54,7 @@ public BisqHeadlessApp() {
     public void startApplication() {
         try {
             bisqSetup = injector.getInstance(BisqSetup.class);
-            bisqSetup.addBisqSetupCompleteListener(this);
+            bisqSetup.addBisqSetupListener(this);
 
             corruptedDatabaseFilesHandler = injector.getInstance(CorruptedDatabaseFilesHandler.class);
             tradeManager = injector.getInstance(TradeManager.class);
diff --git a/core/src/main/java/bisq/core/app/BisqSetup.java b/core/src/main/java/bisq/core/app/BisqSetup.java
index 18763753fcf..cd9a11ed630 100644
--- a/core/src/main/java/bisq/core/app/BisqSetup.java
+++ b/core/src/main/java/bisq/core/app/BisqSetup.java
@@ -116,7 +116,19 @@
 @Slf4j
 @Singleton
 public class BisqSetup {
-    public interface BisqSetupCompleteListener {
+    public interface BisqSetupListener {
+        default void onInitP2pNetwork() {
+            log.info("onInitP2pNetwork");
+        }
+
+        default void onInitWallet() {
+            log.info("onInitWallet");
+        }
+
+        default void onRequestWalletPassword() {
+            log.info("onRequestWalletPassword");
+        }
+
         void onSetupComplete();
     }
 
@@ -201,7 +213,7 @@ public interface BisqSetupCompleteListener {
     private boolean allBasicServicesInitialized;
     @SuppressWarnings("FieldCanBeLocal")
     private MonadicBinding<Boolean> p2pNetworkAndWalletInitialized;
-    private List<BisqSetupCompleteListener> bisqSetupCompleteListeners = new ArrayList<>();
+    private List<BisqSetupListener> bisqSetupListeners = new ArrayList<>();
 
     @Inject
     public BisqSetup(P2PNetworkSetup p2PNetworkSetup,
@@ -296,8 +308,8 @@ public BisqSetup(P2PNetworkSetup p2PNetworkSetup,
     // Setup
     ///////////////////////////////////////////////////////////////////////////////////////////
 
-    public void addBisqSetupCompleteListener(BisqSetupCompleteListener listener) {
-        bisqSetupCompleteListeners.add(listener);
+    public void addBisqSetupListener(BisqSetupListener listener) {
+        bisqSetupListeners.add(listener);
     }
 
     public void start() {
@@ -328,7 +340,7 @@ private void step4() {
     private void step5() {
         initDomainServices();
 
-        bisqSetupCompleteListeners.forEach(BisqSetupCompleteListener::onSetupComplete);
+        bisqSetupListeners.forEach(BisqSetupListener::onSetupComplete);
 
         // We set that after calling the setupCompleteHandler to not trigger a popup from the dev dummy accounts
         // in MainViewModel
@@ -524,6 +536,7 @@ else if (displayTorNetworkSettingsHandler != null)
 
         }, STARTUP_TIMEOUT_MINUTES, TimeUnit.MINUTES);
 
+        bisqSetupListeners.forEach(BisqSetupListener::onInitP2pNetwork);
         p2pNetworkReady = p2PNetworkSetup.init(this::initWallet, displayTorNetworkSettingsHandler);
 
         // We only init wallet service here if not using Tor for bitcoinj.
@@ -550,7 +563,10 @@ else if (displayTorNetworkSettingsHandler != null)
     }
 
     private void initWallet() {
+        bisqSetupListeners.forEach(BisqSetupListener::onInitWallet);
         Runnable walletPasswordHandler = () -> {
+            log.info("Wallet password required");
+            bisqSetupListeners.forEach(BisqSetupListener::onRequestWalletPassword);
             if (p2pNetworkReady.get())
                 p2PNetworkSetup.setSplashP2PNetworkAnimationVisible(true);
 
@@ -561,6 +577,9 @@ private void initWallet() {
                         if (showFirstPopupIfResyncSPVRequestedHandler != null)
                             showFirstPopupIfResyncSPVRequestedHandler.run();
                     } else {
+                        // TODO no guarantee here that the wallet is really fully initialized
+                        // We would need a new walletInitializedButNotEncrypted state to track
+                        // Usually init is fast and we have our wallet initialized at that state though.
                         walletInitialized.set(true);
                     }
                 });
diff --git a/core/src/main/java/bisq/core/app/HeadlessApp.java b/core/src/main/java/bisq/core/app/HeadlessApp.java
index 8d105a93398..3808b89b1a0 100644
--- a/core/src/main/java/bisq/core/app/HeadlessApp.java
+++ b/core/src/main/java/bisq/core/app/HeadlessApp.java
@@ -22,7 +22,7 @@
 
 import com.google.inject.Injector;
 
-public interface HeadlessApp extends UncaughtExceptionHandler, BisqSetup.BisqSetupCompleteListener {
+public interface HeadlessApp extends UncaughtExceptionHandler, BisqSetup.BisqSetupListener {
     void setGracefulShutDownHandler(GracefulShutDownHandler gracefulShutDownHandler);
 
     void setInjector(Injector injector);
diff --git a/desktop/src/main/java/bisq/desktop/main/MainViewModel.java b/desktop/src/main/java/bisq/desktop/main/MainViewModel.java
index b58042e59b6..70726c52ac7 100644
--- a/desktop/src/main/java/bisq/desktop/main/MainViewModel.java
+++ b/desktop/src/main/java/bisq/desktop/main/MainViewModel.java
@@ -95,7 +95,7 @@
 import lombok.extern.slf4j.Slf4j;
 
 @Slf4j
-public class MainViewModel implements ViewModel, BisqSetup.BisqSetupCompleteListener {
+public class MainViewModel implements ViewModel, BisqSetup.BisqSetupListener {
     private final BisqSetup bisqSetup;
     private final WalletsSetup walletsSetup;
     private final User user;
@@ -191,12 +191,12 @@ public MainViewModel(BisqSetup bisqSetup,
         GUIUtil.setPreferences(preferences);
 
         setupHandlers();
-        bisqSetup.addBisqSetupCompleteListener(this);
+        bisqSetup.addBisqSetupListener(this);
     }
 
 
     ///////////////////////////////////////////////////////////////////////////////////////////
-    // BisqSetupCompleteListener
+    // BisqSetupListener
     ///////////////////////////////////////////////////////////////////////////////////////////
 
     @Override