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diff --git a/packages/taler-harness/src/bench1.ts b/packages/taler-harness/src/bench1.ts
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+/*
+ This file is part of GNU Taler
+ (C) 2021 Taler Systems S.A.
+
+ GNU Taler is free software; you can redistribute it and/or modify it under the
+ terms of the GNU General Public License as published by the Free Software
+ Foundation; either version 3, or (at your option) any later version.
+
+ GNU Taler is distributed in the hope that it will be useful, but WITHOUT ANY
+ WARRANTY; without even the implied warranty of MERCHANTABILITY or FITNESS FOR
+ A PARTICULAR PURPOSE.  See the GNU General Public License for more details.
+
+ You should have received a copy of the GNU General Public License along with
+ GNU Taler; see the file COPYING.  If not, see <http://www.gnu.org/licenses/>
+ */
+
+/**
+ * Imports.
+ */
+import {
+  AmountString,
+  buildCodecForObject,
+  codecForBoolean,
+  codecForNumber,
+  codecForString,
+  codecOptional,
+  j2s,
+  Logger,
+} from "@gnu-taler/taler-util";
+import {
+  AccessStats,
+  createNativeWalletHost2,
+  Wallet,
+  WalletApiOperation,
+} from "@gnu-taler/taler-wallet-core";
+import { harnessHttpLib } from "./harness/harness.js";
+
+/**
+ * Entry point for the benchmark.
+ *
+ * The benchmark runs against an existing Taler deployment and does not
+ * set up its own services.
+ */
+export async function runBench1(configJson: any): Promise<void> {
+  const logger = new Logger("Bench1");
+
+  // Validate the configuration file for this benchmark.
+  const b1conf = codecForBench1Config().decode(configJson);
+
+  const numIter = b1conf.iterations ?? 1;
+  const numDeposits = b1conf.deposits ?? 5;
+  const restartWallet = b1conf.restartAfter ?? 20;
+
+  const withdrawOnly = b1conf.withdrawOnly ?? false;
+  const withdrawAmount = (numDeposits + 1) * 10;
+
+  logger.info(
+    `Starting Benchmark iterations=${numIter} deposits=${numDeposits}`,
+  );
+
+  const trustExchange = !!process.env["TALER_WALLET_INSECURE_TRUST_EXCHANGE"];
+  if (trustExchange) {
+    logger.info("trusting exchange (not validating signatures)");
+  } else {
+    logger.info("not trusting exchange (validating signatures)");
+  }
+
+  let wallet = {} as Wallet;
+  let getDbStats: () => AccessStats;
+
+  for (let i = 0; i < numIter; i++) {
+    // Create a new wallet in each iteration
+    // otherwise the TPS go down
+    // my assumption is that the in-memory db file gets too large
+    if (i % restartWallet == 0) {
+      if (Object.keys(wallet).length !== 0) {
+        await wallet.client.call(WalletApiOperation.Shutdown, {});
+        console.log("wallet DB stats", j2s(getDbStats!()));
+      }
+
+      const res = await createNativeWalletHost2({
+        // No persistent DB storage.
+        persistentStoragePath: undefined,
+        httpLib: harnessHttpLib,
+      });
+      wallet = res.wallet;
+      getDbStats = res.getDbStats;
+      await wallet.client.call(WalletApiOperation.InitWallet, {
+        config: {
+          testing: {
+            insecureTrustExchange: trustExchange,
+          },
+          features: {},
+        },
+      });
+    }
+
+    logger.trace(`Starting withdrawal amount=${withdrawAmount}`);
+    let start = Date.now();
+
+    await wallet.client.call(WalletApiOperation.WithdrawTestBalance, {
+      amount: (b1conf.currency + ":" + withdrawAmount) as AmountString,
+      corebankApiBaseUrl: b1conf.bank,
+      exchangeBaseUrl: b1conf.exchange,
+    });
+
+    await wallet.client.call(WalletApiOperation.TestingWaitTasksDone, {});
+
+    logger.info(
+      `Finished withdrawal amount=${withdrawAmount} time=${Date.now() - start}`,
+    );
+
+    if (!withdrawOnly) {
+      for (let i = 0; i < numDeposits; i++) {
+        logger.trace(`Starting deposit amount=10`);
+        start = Date.now();
+
+        await wallet.client.call(WalletApiOperation.CreateDepositGroup, {
+          amount: (b1conf.currency + ":10") as AmountString,
+          depositPaytoUri: b1conf.payto,
+        });
+
+        await wallet.client.call(WalletApiOperation.TestingWaitTasksDone, {});
+
+        logger.info(`Finished deposit amount=10 time=${Date.now() - start}`);
+      }
+    }
+  }
+
+  await wallet.client.call(WalletApiOperation.Shutdown, {});
+  console.log("wallet DB stats", j2s(getDbStats!()));
+}
+
+/**
+ * Format of the configuration file passed to the benchmark
+ */
+interface Bench1Config {
+  /**
+   * Base URL of the bank.
+   */
+  bank: string;
+
+  /**
+   * Payto url for deposits.
+   */
+  payto: string;
+
+  /**
+   * Base URL of the exchange.
+   */
+  exchange: string;
+
+  /**
+   * How many withdraw/deposit iterations should be made?
+   * Defaults to 1.
+   */
+  iterations?: number;
+
+  currency: string;
+
+  deposits?: number;
+
+  /**
+   * How any iterations run until the wallet db gets purged
+   * Defaults to 20.
+   */
+  restartAfter?: number;
+
+  withdrawOnly?: boolean;
+}
+
+/**
+ * Schema validation codec for Bench1Config.
+ */
+const codecForBench1Config = () =>
+  buildCodecForObject<Bench1Config>()
+    .property("bank", codecForString())
+    .property("payto", codecForString())
+    .property("exchange", codecForString())
+    .property("iterations", codecOptional(codecForNumber()))
+    .property("deposits", codecOptional(codecForNumber()))
+    .property("currency", codecForString())
+    .property("restartAfter", codecOptional(codecForNumber()))
+    .property("withdrawOnly", codecOptional(codecForBoolean()))
+    .build("Bench1Config");