diff --git a/src/index.test.ts b/src/index.test.ts
index f4e41bf3..36b9c69f 100644
--- a/src/index.test.ts
+++ b/src/index.test.ts
@@ -166,6 +166,7 @@ describe('index', () => {
         "uint8ArrayToMnemonic",
         "unitMap",
         "valueToBytes",
+        "waitFor",
         "wrapError",
       ]
     `);
diff --git a/src/node.test.ts b/src/node.test.ts
index 8926d905..7fd351f4 100644
--- a/src/node.test.ts
+++ b/src/node.test.ts
@@ -173,6 +173,7 @@ describe('node', () => {
         "uint8ArrayToMnemonic",
         "unitMap",
         "valueToBytes",
+        "waitFor",
         "wrapError",
         "writeFile",
         "writeJsonFile",
diff --git a/src/time.test.ts b/src/time.test.ts
index c84f6066..0ea1489e 100644
--- a/src/time.test.ts
+++ b/src/time.test.ts
@@ -1,4 +1,4 @@
-import { Duration, inMilliseconds, timeSince } from '.';
+import { Duration, inMilliseconds, timeSince, waitFor } from '.';
 
 describe('time utilities', () => {
   describe('Duration', () => {
@@ -63,3 +63,42 @@ describe('time utilities', () => {
     });
   });
 });
+
+describe('waitFor', () => {
+  beforeEach(() => {
+    jest.useFakeTimers();
+  });
+
+  afterEach(() => {
+    jest.useRealTimers();
+  });
+
+  it('resolves once the given duration has elapsed', async () => {
+    const onResolved = jest.fn();
+    const promise = waitFor(Duration.Second).then(onResolved);
+
+    await Promise.resolve();
+    jest.advanceTimersByTime(Duration.Second - 1);
+    await Promise.resolve();
+    expect(onResolved).not.toHaveBeenCalled();
+
+    jest.advanceTimersByTime(1);
+    await promise;
+    expect(onResolved).toHaveBeenCalledTimes(1);
+  });
+
+  it('resolves with undefined for a zero duration', async () => {
+    const promise = waitFor(0);
+    jest.advanceTimersByTime(0);
+    expect(await promise).toBeUndefined();
+  });
+
+  it('rejects for a negative or non-integer duration', async () => {
+    await expect(waitFor(-1)).rejects.toThrow(
+      '"milliseconds" must be a non-negative integer. Received: "-1".',
+    );
+    await expect(waitFor(1.5)).rejects.toThrow(
+      '"milliseconds" must be a non-negative integer. Received: "1.5".',
+    );
+  });
+});
diff --git a/src/time.ts b/src/time.ts
index 388c3fd6..20c49056 100644
--- a/src/time.ts
+++ b/src/time.ts
@@ -71,3 +71,18 @@ export function timeSince(timestamp: number): number {
   assertIsNonNegativeInteger(timestamp, 'timestamp');
   return Date.now() - timestamp;
 }
+
+/**
+ * Waits for the given number of milliseconds.
+ *
+ * This is a promisified `setTimeout`, useful for pausing execution in an async
+ * function. Combine it with {@link inMilliseconds} to wait for a different
+ * {@link Duration}, for example `waitFor(inMilliseconds(2, Duration.Second))`.
+ *
+ * @param milliseconds - The number of milliseconds to wait.
+ * @returns A promise that resolves once the given duration has elapsed.
+ */
+export async function waitFor(milliseconds: number): Promise<void> {
+  assertIsNonNegativeInteger(milliseconds, 'milliseconds');
+  return new Promise((resolve) => setTimeout(resolve, milliseconds));
+}