diff --git a/trezor_agent/tests/test_util.py b/trezor_agent/tests/test_util.py
index e417e5d..5a1310b 100644
--- a/trezor_agent/tests/test_util.py
+++ b/trezor_agent/tests/test_util.py
@@ -1,5 +1,6 @@
 import io
 
+import mock
 import pytest
 
 from .. import util
@@ -101,3 +102,16 @@ def test_reader():
 
 def test_setup_logging():
     util.setup_logging(verbosity=10)
+
+
+def test_memoize():
+    f = mock.Mock(side_effect=lambda x: x)
+
+    def func(x):
+        # mock.Mock doesn't work with functools.wraps()
+        return f(x)
+
+    g = util.memoize(func)
+    assert g(1) == g(1)
+    assert g(1) != g(2)
+    assert f.mock_calls == [mock.call(1), mock.call(2)]
diff --git a/trezor_agent/util.py b/trezor_agent/util.py
index c6a43c8..6c397aa 100644
--- a/trezor_agent/util.py
+++ b/trezor_agent/util.py
@@ -1,6 +1,7 @@
 """Various I/O and serialization utilities."""
 import binascii
 import contextlib
+import functools
 import io
 import logging
 import struct
@@ -185,3 +186,21 @@ def setup_logging(verbosity, **kwargs):
     levels = [logging.WARNING, logging.INFO, logging.DEBUG]
     level = levels[min(verbosity, len(levels) - 1)]
     logging.basicConfig(format=fmt, level=level, **kwargs)
+
+
+def memoize(func):
+    """Simple caching decorator."""
+    cache = {}
+
+    @functools.wraps(func)
+    def wrapper(*args, **kwargs):
+        """Caching wrapper."""
+        key = (args, tuple(sorted(kwargs.items())))
+        if key in cache:
+            return cache[key]
+        else:
+            result = func(*args, **kwargs)
+            cache[key] = result
+            return result
+
+    return wrapper