diff --git a/shared/desc_utils.py b/shared/desc_utils.py
index d5680376..22e01ac0 100644
--- a/shared/desc_utils.py
+++ b/shared/desc_utils.py
@@ -186,43 +186,44 @@ class KeyDerivationInfo:
             return [self.indexes[-2]]
 
     @classmethod
-    def from_string(cls, s):
-        fail_msg = "Cannot use hardened sub derivation path"
-        if not s:
-            return cls()
-        res = []
-        mp = 0
-        mpi = None
-        for idx, i in enumerate(s.split("/")):
-            start_i = i.find("<")
-            if start_i != -1:
-                end_i = s.find(">")
-                assert end_i
-                inner = s[start_i+1:end_i]
-                assert ";" in inner
-                inner_split = inner.split(";")
-                assert len(inner_split) == 2, "wrong multipath"
-                res.append([int(i) for i in inner_split])
-                mp += 1
-                mpi = idx
-            else:
-                if i == WILDCARD:
-                    res.append(WILDCARD)
-                else:
-                    assert "'" not in i, fail_msg
-                    assert "h" not in i, fail_msg
-                    res.append(int(i))
+    def parse(cls, s):
+        err = "Malformed key derivation"
+        multi_i = None
+        idxs = []
+        while True:
+            got, char = read_until(s, b"<,)/")
 
-        # only one <x;y> allowed in subderivation
-        assert mp <= 1, "too many multipaths (%d)" % mp
+            if char == b"<":
+                assert multi_i is None, "too many multipaths"
+                ext_num, char = read_until(s, b";")
+                assert char, err
+                int_num, char = read_until(s, b">")
+                assert char, err
 
-        if res == [0, WILDCARD]:
+                multi_i = len(idxs)
+                idxs.append([int(ext_num.decode()), int(int_num.decode())])
+
+
+            elif got == b"*":
+                # every derivation has to end with wildcard (only ranged keys allowed)
+                idxs.append(WILDCARD)
+                break
+
+            elif char == b"/" and got:
+                assert (b"'" not in got) and (b"h" not in got), "Cannot use hardened sub derivation path"
+                idxs.append(int(got.decode()))
+
+
+        if idxs == [0, WILDCARD]:
             obj = cls()
         else:
-            assert len(res) == 2, "Key derivation too long"
-            assert res[-1] == WILDCARD, "All keys must be ranged"
-            obj = cls(res)
-            obj.multi_path_index = mpi
+            assert idxs[-1] == WILDCARD, "All keys must be ranged"
+            if multi_i is not None:
+                assert len(idxs[multi_i]) == 2, "wrong multipath"
+
+            obj = cls(idxs)
+            obj.multi_path_index = multi_i
+
         return obj
 
     def to_string(self, external=True, internal=True):
@@ -292,23 +293,14 @@ class Key:
         k, char = read_until(s, b",)/")
         der = b""
         if char == b"/":
-            der, char = read_until(s, b"<,)")
-            if char == b"<":
-                der += b"<"
-                branch, char = read_until(s, b">")
-                if char is None:
-                    raise ValueError("Failed reading the key, missing >")
-                der += branch + b">"
-                rest, char = read_until(s, b",)")
-                der += rest
+            der = KeyDerivationInfo.parse(s)
         if char is not None:
             s.seek(-1, 1)
         # parse key
         node, chain_type = cls.parse_key(k)
-        der = KeyDerivationInfo.from_string(der.decode())
         if origin is None:
             origin = KeyOriginInfo(ustruct.pack('<I', swab32(node.my_fp())), [])
-        return cls(node, origin, der, chain_type=chain_type)
+        return cls(node, origin, der or KeyDerivationInfo(), chain_type=chain_type)
 
     @classmethod
     def parse_key(cls, key_str):
@@ -432,21 +424,13 @@ class Unspend(Key):
         char = s.read(1)
         if char != b"/":
             raise ValueError("ranged unspend required")
-        der, char = read_until(s, b"<,)")
-        if char == b"<":
-            der += b"<"
-            branch, char = read_until(s, b">")
-            if char is None:
-                raise ValueError("Failed reading the key, missing >")
-            der += branch + b">"
-            rest, char = read_until(s, b",)")
-            der += rest
+
+        der = KeyDerivationInfo.parse(s)
         if char is not None:
             s.seek(-1, 1)
 
         node = ngu.hdnode.HDNode().from_chaincode_pubkey(chain_code,
                                                          PROVABLY_UNSPENDABLE)
-        der = KeyDerivationInfo.from_string(der.decode())
         return cls(node, None, der, chain_type=None)
 
     def to_string(self, external=True, internal=True, subderiv=True):