diff --git a/src/wallet/sqlite.cpp b/src/wallet/sqlite.cpp
index cff3628049..2cbeedbde6 100644
--- a/src/wallet/sqlite.cpp
+++ b/src/wallet/sqlite.cpp
@@ -110,7 +110,7 @@ Mutex SQLiteDatabase::g_sqlite_mutex;
 int SQLiteDatabase::g_sqlite_count = 0;
 
 SQLiteDatabase::SQLiteDatabase(const fs::path& dir_path, const fs::path& file_path, const DatabaseOptions& options, bool mock)
-    : WalletDatabase(), m_mock(mock), m_dir_path(fs::PathToString(dir_path)), m_file_path(fs::PathToString(file_path)), m_use_unsafe_sync(options.use_unsafe_sync)
+    : WalletDatabase(), m_mock(mock), m_dir_path(fs::PathToString(dir_path)), m_file_path(fs::PathToString(file_path)), m_write_semaphore(1), m_use_unsafe_sync(options.use_unsafe_sync)
 {
     {
         LOCK(g_sqlite_mutex);
@@ -408,7 +408,7 @@ void SQLiteBatch::Close()
     bool force_conn_refresh = false;
 
     // If we began a transaction, and it wasn't committed, abort the transaction in progress
-    if (m_database.HasActiveTxn()) {
+    if (m_txn) {
         if (TxnAbort()) {
             LogPrintf("SQLiteBatch: Batch closed unexpectedly without the transaction being explicitly committed or aborted\n");
         } else {
@@ -442,6 +442,8 @@ void SQLiteBatch::Close()
         m_database.Close();
         try {
             m_database.Open();
+            // If TxnAbort failed and we refreshed the connection, the semaphore was not released, so release it here to avoid deadlocks on future writes.
+            m_database.m_write_semaphore.post();
         } catch (const std::runtime_error&) {
             // If open fails, cleanup this object and rethrow the exception
             m_database.Close();
@@ -493,6 +495,9 @@ bool SQLiteBatch::WriteKey(DataStream&& key, DataStream&& value, bool overwrite)
     if (!BindBlobToStatement(stmt, 1, key, "key")) return false;
     if (!BindBlobToStatement(stmt, 2, value, "value")) return false;
 
+    // Acquire semaphore if not previously acquired when creating a transaction.
+    if (!m_txn) m_database.m_write_semaphore.wait();
+
     // Execute
     int res = sqlite3_step(stmt);
     sqlite3_clear_bindings(stmt);
@@ -500,6 +505,9 @@ bool SQLiteBatch::WriteKey(DataStream&& key, DataStream&& value, bool overwrite)
     if (res != SQLITE_DONE) {
         LogPrintf("%s: Unable to execute statement: %s\n", __func__, sqlite3_errstr(res));
     }
+
+    if (!m_txn) m_database.m_write_semaphore.post();
+
     return res == SQLITE_DONE;
 }
 
@@ -511,6 +519,9 @@ bool SQLiteBatch::ExecStatement(sqlite3_stmt* stmt, Span<const std::byte> blob)
     // Bind: leftmost parameter in statement is index 1
     if (!BindBlobToStatement(stmt, 1, blob, "key")) return false;
 
+    // Acquire semaphore if not previously acquired when creating a transaction.
+    if (!m_txn) m_database.m_write_semaphore.wait();
+
     // Execute
     int res = sqlite3_step(stmt);
     sqlite3_clear_bindings(stmt);
@@ -518,6 +529,9 @@ bool SQLiteBatch::ExecStatement(sqlite3_stmt* stmt, Span<const std::byte> blob)
     if (res != SQLITE_DONE) {
         LogPrintf("%s: Unable to execute statement: %s\n", __func__, sqlite3_errstr(res));
     }
+
+    if (!m_txn) m_database.m_write_semaphore.post();
+
     return res == SQLITE_DONE;
 }
 
@@ -634,30 +648,43 @@ std::unique_ptr<DatabaseCursor> SQLiteBatch::GetNewPrefixCursor(Span<const std::
 
 bool SQLiteBatch::TxnBegin()
 {
-    if (!m_database.m_db || m_database.HasActiveTxn()) return false;
+    if (!m_database.m_db || m_txn) return false;
+    m_database.m_write_semaphore.wait();
+    Assert(!m_database.HasActiveTxn());
     int res = Assert(m_exec_handler)->Exec(m_database, "BEGIN TRANSACTION");
     if (res != SQLITE_OK) {
         LogPrintf("SQLiteBatch: Failed to begin the transaction\n");
+        m_database.m_write_semaphore.post();
+    } else {
+        m_txn = true;
     }
     return res == SQLITE_OK;
 }
 
 bool SQLiteBatch::TxnCommit()
 {
-    if (!m_database.HasActiveTxn()) return false;
+    if (!m_database.m_db || !m_txn) return false;
+    Assert(m_database.HasActiveTxn());
     int res = Assert(m_exec_handler)->Exec(m_database, "COMMIT TRANSACTION");
     if (res != SQLITE_OK) {
         LogPrintf("SQLiteBatch: Failed to commit the transaction\n");
+    } else {
+        m_txn = false;
+        m_database.m_write_semaphore.post();
     }
     return res == SQLITE_OK;
 }
 
 bool SQLiteBatch::TxnAbort()
 {
-    if (!m_database.HasActiveTxn()) return false;
+    if (!m_database.m_db || !m_txn) return false;
+    Assert(m_database.HasActiveTxn());
     int res = Assert(m_exec_handler)->Exec(m_database, "ROLLBACK TRANSACTION");
     if (res != SQLITE_OK) {
         LogPrintf("SQLiteBatch: Failed to abort the transaction\n");
+    } else {
+        m_txn = false;
+        m_database.m_write_semaphore.post();
     }
     return res == SQLITE_OK;
 }
diff --git a/src/wallet/sqlite.h b/src/wallet/sqlite.h
index ad91be1064..0a3243fe19 100644
--- a/src/wallet/sqlite.h
+++ b/src/wallet/sqlite.h
@@ -58,6 +58,18 @@ private:
     sqlite3_stmt* m_delete_stmt{nullptr};
     sqlite3_stmt* m_delete_prefix_stmt{nullptr};
 
+    /** Whether this batch has started a database transaction and whether it owns SQLiteDatabase::m_write_semaphore.
+     * If the batch starts a db tx, it acquires the semaphore and sets this to true, keeping the semaphore
+     * until the transaction ends to prevent other batch objects from writing to the database.
+     *
+     * If this batch did not start a transaction, the semaphore is acquired transiently when writing and m_txn
+     * is not set.
+     *
+     * m_txn is different from HasActiveTxn() as it is only true when this batch has started the transaction,
+     * not just when any batch has started a transaction.
+     */
+    bool m_txn{false};
+
     void SetupSQLStatements();
     bool ExecStatement(sqlite3_stmt* stmt, Span<const std::byte> blob);
 
@@ -115,6 +127,10 @@ public:
 
     ~SQLiteDatabase();
 
+    // Batches must acquire this semaphore on writing, and release when done writing.
+    // This ensures that only one batch is modifying the database at a time.
+    CSemaphore m_write_semaphore;
+
     bool Verify(bilingual_str& error);
 
     /** Open the database if it is not already opened */