diff --git a/bitcoin/address.c b/bitcoin/address.c
index d1dbe22c7..a5aad53bd 100644
--- a/bitcoin/address.c
+++ b/bitcoin/address.c
@@ -6,6 +6,6 @@ void bitcoin_address(const struct pubkey *key, struct bitcoin_address *addr)
 {
 	struct sha256 h;
 
-	sha256(&h, key->key, pubkey_len(key));
+	sha256(&h, key->der, pubkey_derlen(key));
 	ripemd160(&addr->addr, h.u.u8, sizeof(h));
 }
diff --git a/bitcoin/base58.c b/bitcoin/base58.c
index 9ec28d3d2..6c29a4d03 100644
--- a/bitcoin/base58.c
+++ b/bitcoin/base58.c
@@ -275,7 +275,6 @@ bool key_from_base58(const char *base58, size_t base58_len,
 	bool compressed;
 	secp256k1_context *secpctx;
 	size_t keylen;
-	secp256k1_pubkey pubkey;
 	
 	BN_init(&bn);
 	if (!raw_decode_base58(&bn, base58, base58_len))
@@ -312,19 +311,11 @@ bool key_from_base58(const char *base58, size_t base58_len,
 	if (!secp256k1_ec_seckey_verify(secpctx, priv->secret))
 		goto fail_free_secpctx;
 
-	/* Get public key, too. */
-	/* FIXME: Don't convert. */
-	if (!secp256k1_ec_pubkey_create(secpctx, &pubkey, priv->secret))
+	/* Get public key, too, since we know if it's compressed. */
+	if (!pubkey_from_privkey(priv, key,
+				 compressed ? SECP256K1_EC_COMPRESSED : 0))
 		goto fail_free_secpctx;
 
-	memset(key, 0, sizeof(*key));
-	if (!secp256k1_ec_pubkey_serialize(secpctx, key->key, &keylen,
-					   &pubkey,
-					   compressed
-					   ? SECP256K1_EC_COMPRESSED : 0))
-		goto fail_free_secpctx;
-	assert(keylen == pubkey_len(key));
-
 	BN_free(&bn);
 	secp256k1_context_destroy(secpctx);
 	return true;
diff --git a/bitcoin/pubkey.c b/bitcoin/pubkey.c
index ee9ae4550..f922b8707 100644
--- a/bitcoin/pubkey.c
+++ b/bitcoin/pubkey.c
@@ -1,6 +1,7 @@
 #include <ccan/str/hex/hex.h>
 #include <assert.h>
 #include "pubkey.h"
+#include "privkey.h"
 
 /* Must agree on key validity with bitcoin!  Stolen from bitcoin/src/pubkey.h's
  * GetLen:
@@ -18,29 +19,76 @@ static unsigned int GetLen(unsigned char chHeader)
         return 0;
 }
 
-bool pubkey_valid(const u8 *first_char, size_t len)
+size_t pubkey_derlen(const struct pubkey *key)
 {
-	if (len < 1)
-		return false;
-	return (len == GetLen(*first_char));
-}
-
-size_t pubkey_len(const struct pubkey *key)
-{
-	size_t len = GetLen(key->key[0]);
+	size_t len = GetLen(key->der[0]);
 
 	assert(len);
 	return len;
 }
 
-bool pubkey_from_hexstr(const char *str, struct pubkey *key)
+bool pubkey_from_der(const u8 *der, size_t len, struct pubkey *key)
 {
-	size_t slen = strlen(str), dlen;
-	dlen = hex_data_size(slen);
+	secp256k1_context *secpctx = secp256k1_context_create(0);
 
-	if (dlen != 33 && dlen != 65)
-		return false;
-	if (!hex_decode(str, slen, key->key, dlen))
-		return false;
-	return GetLen(key->key[0]) == dlen;
+	if (len > sizeof(key->der))
+		goto fail_free_secpctx;
+
+	memcpy(key->der, der, len);
+	if (!secp256k1_ec_pubkey_parse(secpctx, &key->pubkey, key->der, len))
+		goto fail_free_secpctx;
+
+	secp256k1_context_destroy(secpctx);
+	return true;
+	
+fail_free_secpctx:
+	secp256k1_context_destroy(secpctx);
+	return false;
+}
+
+/* Pubkey from privkey */
+bool pubkey_from_privkey(const struct privkey *privkey,
+			 struct pubkey *key,
+			 unsigned int compressed_flags)
+{
+	secp256k1_context *secpctx;
+	size_t outlen;
+	
+	secpctx = secp256k1_context_create(SECP256K1_CONTEXT_SIGN);
+
+	if (!secp256k1_ec_pubkey_create(secpctx, &key->pubkey, privkey->secret))
+		goto fail_free_secpctx;
+
+	if (!secp256k1_ec_pubkey_serialize(secpctx, key->der, &outlen,
+					   &key->pubkey, compressed_flags))
+		goto fail_free_secpctx;
+	assert(outlen == pubkey_derlen(key));
+	
+	secp256k1_context_destroy(secpctx);
+	return true;
+
+fail_free_secpctx:
+	secp256k1_context_destroy(secpctx);
+	return false;
+}
+	
+bool pubkey_from_hexstr(const char *derstr, struct pubkey *key)
+{
+	size_t slen = strlen(derstr), dlen;
+	unsigned char der[65];
+
+	dlen = hex_data_size(slen);
+	if (dlen > sizeof(der))
+		return false;
+
+	if (!hex_decode(derstr, slen, der, dlen))
+		return false;
+
+	return pubkey_from_der(der, dlen, key);
+}
+
+bool pubkey_eq(const struct pubkey *a, const struct pubkey *b)
+{
+	return pubkey_derlen(a) == pubkey_derlen(b)
+		&& memcmp(a->der, b->der, pubkey_derlen(a)) == 0;
 }
diff --git a/bitcoin/pubkey.h b/bitcoin/pubkey.h
index 50cb9aa18..b75831348 100644
--- a/bitcoin/pubkey.h
+++ b/bitcoin/pubkey.h
@@ -2,18 +2,31 @@
 #define LIGHTNING_BITCOIN_PUBKEY_H
 #include <ccan/short_types/short_types.h>
 #include <ccan/tal/tal.h>
+#include "secp256k1.h"
+
+struct privkey;
 
 struct pubkey {
-	u8 key[65];
+	/* DER-encoded key (as hashed by bitcoin, for addresses) */
+	u8 der[65];
+	/* Unpacked pubkey (as used by libsecp256k1 internally) */
+	secp256k1_pubkey pubkey;
 };
 
-/* 33 or 65 bytes? */
-size_t pubkey_len(const struct pubkey *key);
+/* Convert from hex string of DER (scriptPubKey from validateaddress) */
+bool pubkey_from_hexstr(const char *derstr, struct pubkey *key);
 
-/* Convert from hex string (scriptPubKey from validateaddress) */
-bool pubkey_from_hexstr(const char *str, struct pubkey *key);
+/* Pubkey from privkey */
+bool pubkey_from_privkey(const struct privkey *privkey,
+			 struct pubkey *key,
+			 unsigned int compressed_flags);
 
-/* For conversion routines in protobuf_convert.c */
-bool pubkey_valid(const u8 *first_char, size_t len);
+/* Pubkey from DER encoding. */
+bool pubkey_from_der(const u8 *der, size_t len, struct pubkey *key);
 
+/* How many bytes of key->der are valid. */
+size_t pubkey_derlen(const struct pubkey *key);
+
+/* Are these keys equal? */
+bool pubkey_eq(const struct pubkey *a, const struct pubkey *b);
 #endif /* LIGHTNING_PUBKEY_H */
diff --git a/bitcoin/script.c b/bitcoin/script.c
index 75701c563..937e2e369 100644
--- a/bitcoin/script.c
+++ b/bitcoin/script.c
@@ -94,7 +94,7 @@ static void add_number(u8 **script, u32 num)
 
 static void add_push_key(u8 **scriptp, const struct pubkey *key)
 {
-	add_push_bytes(scriptp, key->key, pubkey_len(key));
+	add_push_bytes(scriptp, key->der, pubkey_derlen(key));
 }
 
 static void add_push_sig(u8 **scriptp, const struct bitcoin_signature *sig)
@@ -128,10 +128,10 @@ static void add_push_le32(u8 **scriptp, u32 val)
 static bool key_less(const struct pubkey *a, const struct pubkey *b)
 {
 	/* Shorter one wins. */
-	if (pubkey_len(a) != pubkey_len(b))
-		return pubkey_len(a) < pubkey_len(b);
+	if (pubkey_derlen(a) != pubkey_derlen(b))
+		return pubkey_derlen(a) < pubkey_derlen(b);
 
-	return memcmp(a->key, b->key, pubkey_len(a)) < 0;
+	return memcmp(a->der, b->der, pubkey_derlen(a)) < 0;
 }
 	
 /* tal_count() gives the length of the script. */
diff --git a/bitcoin/signature.c b/bitcoin/signature.c
index fbdaaa75d..698d10842 100644
--- a/bitcoin/signature.c
+++ b/bitcoin/signature.c
@@ -152,26 +152,18 @@ static bool check_signed_hash(const struct sha256_double *hash,
 {
 	int ret;
 	secp256k1_context *secpctx;
-	/* FIXME: Don't convert here! */
-	secp256k1_pubkey pubkey;
 
 	secpctx = secp256k1_context_create(SECP256K1_CONTEXT_VERIFY);
 	if (!secpctx)
 		return false;
 
-	if (!secp256k1_ec_pubkey_parse(secpctx, &pubkey, key->key,
-				       pubkey_len(key))) {
-		secp256k1_context_destroy(secpctx);
-		return false;
-	}
-
 #ifdef USE_SCHNORR
 	ret = secp256k1_schnorr_verify(secpctx, (unsigned char *)signature,
-				       hash->sha.u.u8, &pubkey);
+				       hash->sha.u.u8, &key->pubkey);
 #else
 	ret = secp256k1_ecdsa_verify(secpctx,
 				     (secp256k1_ecdsa_signature *)signature,
-				     hash->sha.u.u8, &pubkey);
+				     hash->sha.u.u8, &key->pubkey);
 #endif
 
 	secp256k1_context_destroy(secpctx);
diff --git a/protobuf_convert.c b/protobuf_convert.c
index 288508199..8ec27a6bc 100644
--- a/protobuf_convert.c
+++ b/protobuf_convert.c
@@ -41,22 +41,20 @@ bool proto_to_signature(const Signature *pb, struct signature *sig)
 BitcoinPubkey *pubkey_to_proto(const tal_t *ctx, const struct pubkey *key)
 {
 	BitcoinPubkey *p = tal(ctx, BitcoinPubkey);
+	struct pubkey check;
 
 	bitcoin_pubkey__init(p);
-	p->key.len = pubkey_len(key);
-	p->key.data = tal_dup_arr(p, u8, key->key, p->key.len, 0);
+	p->key.len = pubkey_derlen(key);
+	p->key.data = tal_dup_arr(p, u8, key->der, p->key.len, 0);
 
-	assert(pubkey_valid(p->key.data, p->key.len));
+	assert(pubkey_from_der(p->key.data, p->key.len, &check));
+	assert(pubkey_eq(&check, key));
 	return p;
 }
 
 bool proto_to_pubkey(const BitcoinPubkey *pb, struct pubkey *key)
 {
-	if (!pubkey_valid(pb->key.data, pb->key.len))
-		return false;
-
-	memcpy(key->key, pb->key.data, pb->key.len);
-	return true;
+	return pubkey_from_der(pb->key.data, pb->key.len, key);
 }
 
 Sha256Hash *sha256_to_proto(const tal_t *ctx, const struct sha256 *hash)
diff --git a/test-cli/close-channel.c b/test-cli/close-channel.c
index b3d0f9e22..fa2f29021 100644
--- a/test-cli/close-channel.c
+++ b/test-cli/close-channel.c
@@ -79,8 +79,7 @@ int main(int argc, char *argv[])
 	/* Get pubkeys */
 	if (!proto_to_pubkey(o1->commit_key, &pubkey2))
 		errx(1, "Invalid o1 commit pubkey");
-	if (pubkey_len(&pubkey1) != pubkey_len(&pubkey2)
-	    || memcmp(pubkey1.key, pubkey2.key, pubkey_len(&pubkey2)) != 0)
+	if (!pubkey_eq(&pubkey1, &pubkey2))
 		errx(1, "o1 pubkey != this privkey");
 	if (!proto_to_pubkey(o2->commit_key, &pubkey2))
 		errx(1, "Invalid o2 commit pubkey");
diff --git a/test-cli/create-commit-spend-tx.c b/test-cli/create-commit-spend-tx.c
index 79755044d..7b49563da 100644
--- a/test-cli/create-commit-spend-tx.c
+++ b/test-cli/create-commit-spend-tx.c
@@ -77,8 +77,7 @@ int main(int argc, char *argv[])
 	/* Get pubkeys */
 	if (!proto_to_pubkey(o1->final_key, &pubkey2))
 		errx(1, "Invalid o1 final pubkey");
-	if (pubkey_len(&pubkey1) != pubkey_len(&pubkey2)
-	    || memcmp(pubkey1.key, pubkey2.key, pubkey_len(&pubkey2)) != 0)
+	if (!pubkey_eq(&pubkey1, &pubkey2))
 		errx(1, "o1 pubkey != this privkey");
 	if (!proto_to_pubkey(o2->final_key, &pubkey2))
 		errx(1, "Invalid o2 final pubkey");
diff --git a/test-cli/create-commit-tx.c b/test-cli/create-commit-tx.c
index f8bf64c44..527c5827a 100644
--- a/test-cli/create-commit-tx.c
+++ b/test-cli/create-commit-tx.c
@@ -60,8 +60,7 @@ int main(int argc, char *argv[])
 	/* Get pubkeys */
 	if (!proto_to_pubkey(o1->commit_key, &pubkey2))
 		errx(1, "Invalid o1 commit pubkey");
-	if (pubkey_len(&pubkey1) != pubkey_len(&pubkey2)
-	    || memcmp(pubkey1.key, pubkey2.key, pubkey_len(&pubkey2)) != 0)
+	if (!pubkey_eq(&pubkey1, &pubkey2))
 		errx(1, "o1 pubkey != this privkey");
 	if (!proto_to_pubkey(o2->commit_key, &pubkey2))
 		errx(1, "Invalid o2 commit pubkey");
diff --git a/test-cli/create-htlc-spend-tx.c b/test-cli/create-htlc-spend-tx.c
index 82b46baf0..0979f0c27 100644
--- a/test-cli/create-htlc-spend-tx.c
+++ b/test-cli/create-htlc-spend-tx.c
@@ -99,11 +99,9 @@ int main(int argc, char *argv[])
 	if (!proto_to_pubkey(o2->final_key, &pubkey2))
 		errx(1, "Invalid o2 final pubkey");
 
-	if (pubkey_len(&key) == pubkey_len(&pubkey1)
-	    && memcmp(key.key, pubkey1.key, pubkey_len(&pubkey1)) == 0) {
+	if (pubkey_eq(&key, &pubkey1)) {
 		own_commit_tx = true;
-	} else if (pubkey_len(&key) == pubkey_len(&pubkey2)
-		   && memcmp(key.key, pubkey2.key, pubkey_len(&pubkey2)) == 0) {
+	} else if (pubkey_eq(&key, &pubkey2)) {
 		own_commit_tx = false;
 	} else
 		errx(1, "Privkey doesn't match either key");
diff --git a/test-cli/create-steal-tx.c b/test-cli/create-steal-tx.c
index 70a633907..99ab6fd21 100644
--- a/test-cli/create-steal-tx.c
+++ b/test-cli/create-steal-tx.c
@@ -77,8 +77,7 @@ int main(int argc, char *argv[])
 	/* Get pubkeys */
 	if (!proto_to_pubkey(o1->final_key, &pubkey2))
 		errx(1, "Invalid o1 final pubkey");
-	if (pubkey_len(&pubkey1) != pubkey_len(&pubkey2)
-	    || memcmp(pubkey1.key, pubkey2.key, pubkey_len(&pubkey2)) != 0)
+	if (!pubkey_eq(&pubkey1, &pubkey2))
 		errx(1, "o1 pubkey != this privkey");
 	if (!proto_to_pubkey(o2->final_key, &pubkey2))
 		errx(1, "Invalid o2 final pubkey");
diff --git a/test-cli/update-channel-accept.c b/test-cli/update-channel-accept.c
index 2baa7a7fc..482983a44 100644
--- a/test-cli/update-channel-accept.c
+++ b/test-cli/update-channel-accept.c
@@ -74,8 +74,7 @@ int main(int argc, char *argv[])
 	/* Get pubkeys */
 	if (!proto_to_pubkey(o1->commit_key, &pubkey2))
 		errx(1, "Invalid o1 commit pubkey");
-	if (pubkey_len(&pubkey1) != pubkey_len(&pubkey2)
-	    || memcmp(pubkey1.key, pubkey2.key, pubkey_len(&pubkey2)) != 0)
+	if (!pubkey_eq(&pubkey1, &pubkey2))
 		errx(1, "o1 pubkey != this privkey");
 	if (!proto_to_pubkey(o2->commit_key, &pubkey2))
 		errx(1, "Invalid o2 commit pubkey");
diff --git a/test-cli/update-channel-signature.c b/test-cli/update-channel-signature.c
index fbad4dbbf..81bf7a5a7 100644
--- a/test-cli/update-channel-signature.c
+++ b/test-cli/update-channel-signature.c
@@ -77,8 +77,7 @@ int main(int argc, char *argv[])
 	/* Get pubkeys */
 	if (!proto_to_pubkey(o1->commit_key, &pubkey2))
 		errx(1, "Invalid o1 commit pubkey");
-	if (pubkey_len(&pubkey1) != pubkey_len(&pubkey2)
-	    || memcmp(pubkey1.key, pubkey2.key, pubkey_len(&pubkey2)) != 0)
+	if (!pubkey_eq(&pubkey1, &pubkey2))
 		errx(1, "o1 pubkey != this privkey");
 	if (!proto_to_pubkey(o2->commit_key, &pubkey2))
 		errx(1, "Invalid o2 commit pubkey");