diff --git a/code/parachain/runtime/common/src/xcmp.rs b/code/parachain/runtime/common/src/xcmp.rs
index 16d3c907b35..27fd2952a18 100644
--- a/code/parachain/runtime/common/src/xcmp.rs
+++ b/code/parachain/runtime/common/src/xcmp.rs
@@ -3,7 +3,7 @@ use crate::{fees::NativeBalance, prelude::*, AccountId, Balance};
 use frame_support::{
 	dispatch::Weight,
 	log, match_types, parameter_types,
-	traits::{tokens::BalanceConversion, Contains, Get},
+	traits::{tokens::BalanceConversion, Contains, Get, PalletInfoAccess},
 	weights::{WeightToFee, WeightToFeePolynomial},
 };
 use num_traits::{One, Zero};
@@ -178,45 +178,53 @@ impl Convert<AccountId, MultiLocation> for AccountIdToMultiLocation {
 	}
 }
 
-pub struct CurrencyIdConvert<AssetRegistry, WellKnownCurrency, ThisParaId>(
-	PhantomData<(AssetRegistry, WellKnownCurrency, ThisParaId)>,
+pub struct CurrencyIdConvert<ForeignAssetsToXcm, WellKnownCurrency, AssetsRegistry, ThisParaId>(
+	PhantomData<(ForeignAssetsToXcm, WellKnownCurrency, AssetsRegistry, ThisParaId)>,
 );
 
 impl<
-		AssetRegistry: Convert<CurrencyId, Option<MultiLocation>>,
+		ForeignAssetsToXcm: Convert<CurrencyId, Option<MultiLocation>>,
 		WellKnown: WellKnownCurrency,
+		AssetsRegistry: PalletInfoAccess,
 		ThisParaId: Get<Id>,
 	> sp_runtime::traits::Convert<CurrencyId, Option<MultiLocation>>
-	for CurrencyIdConvert<AssetRegistry, WellKnown, ThisParaId>
+	for CurrencyIdConvert<ForeignAssetsToXcm, WellKnown, AssetsRegistry, ThisParaId>
 {
 	fn convert(id: CurrencyId) -> Option<MultiLocation> {
-		WellKnown::local_to_remote(id).or_else(|| AssetRegistry::convert(id))
+		WellKnown::local_to_remote(id).or_else(|| ForeignAssetsToXcm::convert(id))
 	}
 }
 
 impl<
-		AssetsRegistry: Convert<MultiLocation, Option<CurrencyId>>,
+		ForeignAssetsToXcm: Convert<MultiLocation, Option<CurrencyId>>,
 		WellKnown: WellKnownCurrency,
+		AssetsRegistry: PalletInfoAccess,
 		ThisParaId: Get<Id>,
 	> Convert<MultiLocation, Option<CurrencyId>>
-	for CurrencyIdConvert<AssetsRegistry, WellKnown, ThisParaId>
+	for CurrencyIdConvert<ForeignAssetsToXcm, WellKnown, AssetsRegistry, ThisParaId>
 {
 	fn convert(location: MultiLocation) -> Option<CurrencyId> {
 		log::trace!(target: "xcmp::convert", "converting {:?} on {:?}", &location, ThisParaId::get());
 		match location {
 			topology::relay::LOCATION => Some(WellKnown::RELAY_NATIVE),
 			topology::this::LOCAL => Some(WellKnown::NATIVE),
-			MultiLocation { parents, interior: X2(Parachain(id), GeneralIndex(index)) }
-				if parents == 1 && Id::from(id) == ThisParaId::get() =>
-				Some(CurrencyId(index)),
-			MultiLocation { parents: 0, interior: X1(GeneralIndex(index)) } =>
+			MultiLocation {
+				parents,
+				interior: X3(Parachain(id), PalletInstance(pallet_index), GeneralIndex(index)),
+			} if parents == 1 &&
+				Id::from(id) == ThisParaId::get() &&
+				pallet_index == AssetsRegistry::index() as u8 =>
 				Some(CurrencyId(index)),
+			MultiLocation {
+				parents,
+				interior: X2(PalletInstance(pallet_index), GeneralIndex(index)),
+			} if parents == 0 && pallet_index == AssetsRegistry::index() as u8 => Some(CurrencyId(index)),
 			_ =>
 				if let Some(currency_id) = WellKnown::remote_to_local(location) {
 					Some(currency_id)
 				} else {
 					log::trace!(target: "xcmp", "using assets registry for {:?}", location);
-					let result = AssetsRegistry::convert(location).map(Into::into);
+					let result = ForeignAssetsToXcm::convert(location).map(Into::into);
 					if let Some(result) = result {
 						log::trace!(target: "xcmp", "mapped remote to {:?} local", result);
 					} else {
@@ -230,10 +238,12 @@ impl<
 }
 
 impl<
-		T: Convert<MultiLocation, Option<CurrencyId>>,
+		ForeignAssetsToXcm: Convert<MultiLocation, Option<CurrencyId>>,
 		WellKnown: WellKnownCurrency,
+		AssetsRegistry: PalletInfoAccess,
 		ThisParaId: Get<Id>,
-	> Convert<MultiAsset, Option<CurrencyId>> for CurrencyIdConvert<T, WellKnown, ThisParaId>
+	> Convert<MultiAsset, Option<CurrencyId>>
+	for CurrencyIdConvert<ForeignAssetsToXcm, WellKnown, AssetsRegistry, ThisParaId>
 {
 	fn convert(asset: MultiAsset) -> Option<CurrencyId> {
 		log::trace!(target: "xcmp", "converting {:?}", &asset);
diff --git a/code/parachain/runtime/composable/src/xcmp.rs b/code/parachain/runtime/composable/src/xcmp.rs
index 7642ea8fe2d..f9d276248f4 100644
--- a/code/parachain/runtime/composable/src/xcmp.rs
+++ b/code/parachain/runtime/composable/src/xcmp.rs
@@ -333,25 +333,37 @@ impl<
 	}
 }
 
-pub struct ForeignXcm;
+pub struct ForeignAssetsToXcm;
 
-impl Convert<CurrencyId, Option<MultiLocation>> for ForeignXcm {
+impl Convert<CurrencyId, Option<MultiLocation>> for ForeignAssetsToXcm {
 	fn convert(a: CurrencyId) -> Option<MultiLocation> {
 		match AssetsRegistry::asset_to_remote(a) {
+			// XCMed assets
 			Some(ForeignAssetId::Xcm(VersionedMultiLocation::V3(xcm))) => Some(xcm),
-			_ => None,
+			// IBCed assets
+			_ => Some(MultiLocation {
+				parents: 0,
+				interior: X2(
+					PalletInstance(<AssetsRegistry as PalletInfoAccess>::index() as u8),
+					GeneralIndex(a.into()),
+				),
+			}),
 		}
 	}
 }
 
-impl Convert<MultiLocation, Option<CurrencyId>> for ForeignXcm {
+impl Convert<MultiLocation, Option<CurrencyId>> for ForeignAssetsToXcm {
 	fn convert(a: MultiLocation) -> Option<CurrencyId> {
 		AssetsRegistry::location_to_asset(ForeignAssetId::Xcm(VersionedMultiLocation::V3(a)))
 	}
 }
 
-type AssetsIdConverter =
-	CurrencyIdConvert<ForeignXcm, primitives::topology::Composable, ParachainInfo>;
+type AssetsIdConverter = CurrencyIdConvert<
+	ForeignAssetsToXcm,
+	primitives::topology::Composable,
+	AssetsRegistry,
+	ParachainInfo,
+>;
 
 pub type Trader = TransactionFeePoolTrader<
 	AssetsIdConverter,
diff --git a/code/parachain/runtime/picasso/src/xcmp.rs b/code/parachain/runtime/picasso/src/xcmp.rs
index f1683618acd..0cdf8283165 100644
--- a/code/parachain/runtime/picasso/src/xcmp.rs
+++ b/code/parachain/runtime/picasso/src/xcmp.rs
@@ -322,25 +322,37 @@ impl<
 	}
 }
 
-pub struct ForeignXcm;
+pub struct ForeignAssetsToXcm;
 
-impl Convert<CurrencyId, Option<MultiLocation>> for ForeignXcm {
+impl Convert<CurrencyId, Option<MultiLocation>> for ForeignAssetsToXcm {
 	fn convert(a: CurrencyId) -> Option<MultiLocation> {
 		match AssetsRegistry::asset_to_remote(a) {
+			// XCMed assets
 			Some(ForeignAssetId::Xcm(VersionedMultiLocation::V3(xcm))) => Some(xcm),
-			_ => None,
+			// IBCed assets
+			_ => Some(MultiLocation {
+				parents: 0,
+				interior: X2(
+					PalletInstance(<AssetsRegistry as PalletInfoAccess>::index() as u8),
+					GeneralIndex(a.into()),
+				),
+			}),
 		}
 	}
 }
 
-impl Convert<MultiLocation, Option<CurrencyId>> for ForeignXcm {
+impl Convert<MultiLocation, Option<CurrencyId>> for ForeignAssetsToXcm {
 	fn convert(a: MultiLocation) -> Option<CurrencyId> {
 		AssetsRegistry::location_to_asset(ForeignAssetId::Xcm(VersionedMultiLocation::V3(a)))
 	}
 }
 
-type AssetsIdConverter =
-	CurrencyIdConvert<ForeignXcm, primitives::topology::Picasso, ParachainInfo>;
+type AssetsIdConverter = CurrencyIdConvert<
+	ForeignAssetsToXcm,
+	primitives::topology::Picasso,
+	AssetsRegistry,
+	ParachainInfo,
+>;
 
 pub type Trader = TransactionFeePoolTrader<
 	AssetsIdConverter,