diff --git a/src/components/views/elements/crypto/VerificationQRCode.js b/src/components/views/elements/crypto/VerificationQRCode.js
index 630a06a07c..1c0fdcbf44 100644
--- a/src/components/views/elements/crypto/VerificationQRCode.js
+++ b/src/components/views/elements/crypto/VerificationQRCode.js
@@ -19,6 +19,9 @@ import PropTypes from "prop-types";
 import {replaceableComponent} from "../../../../utils/replaceableComponent";
 import * as qs from "qs";
 import QRCode from "qrcode-react";
+import {MatrixClientPeg} from "../../../../MatrixClientPeg";
+import {VerificationRequest} from "matrix-js-sdk/src/crypto/verification/request/VerificationRequest";
+import {ToDeviceChannel} from "matrix-js-sdk/src/crypto/verification/request/ToDeviceChannel";
 
 @replaceableComponent("views.elements.crypto.VerificationQRCode")
 export default class VerificationQRCode extends React.PureComponent {
@@ -31,13 +34,81 @@ export default class VerificationQRCode extends React.PureComponent {
         // User verification use case only
         secret: PropTypes.string,
         otherUserKey: PropTypes.string, // Base64 key being verified
-        requestEventId: PropTypes.string,
+        otherUserDeviceKey: PropTypes.string, // Base64 key of the other user's device (or what we think it is; optional)
+        requestEventId: PropTypes.string, // for DM verification only
     };
 
     static defaultProps = {
         action: "verify",
     };
 
+    static async getPropsForRequest(verificationRequest: VerificationRequest) {
+        const cli = MatrixClientPeg.get();
+        const myUserId = cli.getUserId();
+        const otherUserId = verificationRequest.otherUserId;
+        const myDeviceId = cli.getDeviceId();
+        const otherDevice = verificationRequest.targetDevice;
+        const otherDeviceId = otherDevice ? otherDevice.deviceId : null;
+
+        const qrProps = {
+            secret: verificationRequest.encodedSharedSecret,
+            keyholderUserId: myUserId,
+            action: "verify",
+            keys: [], // array of pairs: keyId, base64Key
+            otherUserKey: "", // base64key
+            otherUserDeviceKey: "", // base64key
+            requestEventId: "", // we figure this out in a moment
+        };
+
+        const requestEvent = verificationRequest.requestEvent;
+        qrProps.requestEventId = requestEvent.getId()
+            ? requestEvent.getId()
+            : ToDeviceChannel.getTransactionId(requestEvent);
+
+        // Populate the keys we need depending on which direction and users are involved in the verification.
+        if (myUserId === otherUserId) {
+            if (!otherDeviceId) {
+                // Existing scanning New session's QR code
+                qrProps.otherUserDeviceKey = null;
+            } else {
+                // New scanning Existing session's QR code
+                const myDevices = (await cli.getStoredDevicesForUser(myUserId)) || [];
+                const device = myDevices.find(d => d.deviceId === otherDeviceId);
+                if (device) qrProps.otherUserDeviceKey = device.getFingerprint();
+            }
+
+            // Either direction shares these next few props
+
+            const xsignInfo = cli.getStoredCrossSigningForUser(myUserId);
+            qrProps.otherUserKey = xsignInfo.getId("master");
+
+            qrProps.keys = [
+                [myDeviceId, cli.getDeviceEd25519Key()],
+                [xsignInfo.getId("master"), xsignInfo.getId("master")],
+            ];
+        } else {
+            // Doesn't matter which direction the verification is, we always show the same QR code
+            // for not-ourself verification.
+            const myXsignInfo = cli.getStoredCrossSigningForUser(myUserId);
+            const otherXsignInfo = cli.getStoredCrossSigningForUser(otherUserId);
+            const otherDevices = (await cli.getStoredDevicesForUser(otherUserId)) || [];
+            const otherDevice = otherDevices.find(d => d.deviceId === otherDeviceId);
+
+            qrProps.keys = [
+                [myDeviceId, cli.getDeviceEd25519Key()],
+                [myXsignInfo.getId("master"), myXsignInfo.getId("master")],
+            ];
+            qrProps.otherUserKey = otherXsignInfo.getId("master");
+            if (otherDevice) qrProps.otherUserDeviceKey = otherDevice.getFingerprint();
+        }
+
+        return qrProps;
+    }
+
+    constructor(props) {
+        super(props);
+    }
+
     render() {
         const query = {
             request: this.props.requestEventId,
diff --git a/src/components/views/right_panel/VerificationPanel.js b/src/components/views/right_panel/VerificationPanel.js
index 3527747a66..ad1aaf598c 100644
--- a/src/components/views/right_panel/VerificationPanel.js
+++ b/src/components/views/right_panel/VerificationPanel.js
@@ -20,7 +20,6 @@ import PropTypes from "prop-types";
 import * as sdk from '../../../index';
 import {verificationMethods} from 'matrix-js-sdk/src/crypto';
 import VerificationQRCode from "../elements/crypto/VerificationQRCode";
-import {MatrixClientPeg} from "../../../MatrixClientPeg";
 import {_t} from "../../../languageHandler";
 import E2EIcon from "../rooms/E2EIcon";
 import {
@@ -29,7 +28,7 @@ import {
     PHASE_READY,
     PHASE_DONE,
     PHASE_STARTED,
-    PHASE_CANCELLED,
+    PHASE_CANCELLED, VerificationRequest,
 } from "matrix-js-sdk/src/crypto/verification/request/VerificationRequest";
 import Spinner from "../elements/Spinner";
 
@@ -50,12 +49,24 @@ export default class VerificationPanel extends React.PureComponent {
 
     constructor(props) {
         super(props);
-        this.state = {};
+        this.state = {
+            qrCodeProps: null, // generated by the VerificationQRCode component itself
+        };
         this._hasVerifier = false;
+        this._generateQRCodeProps(props.request);
+    }
+
+    async _generateQRCodeProps(verificationRequest: VerificationRequest) {
+        try {
+            this.setState({qrCodeProps: await VerificationQRCode.getPropsForRequest(verificationRequest)});
+        } catch (e) {
+            console.error(e);
+            // Do nothing - we won't render a QR code.
+        }
     }
 
     renderQRPhase(pending) {
-        const {member, request} = this.props;
+        const {member} = this.props;
         const AccessibleButton = sdk.getComponent('elements.AccessibleButton');
 
         let button;
@@ -69,10 +80,7 @@ export default class VerificationPanel extends React.PureComponent {
             );
         }
 
-        const cli = MatrixClientPeg.get();
-        const crossSigningInfo = cli.getStoredCrossSigningForUser(request.otherUserId);
-        if (!crossSigningInfo || !request.requestEvent || !request.requestEvent.getId()) {
-            // for whatever reason we can't generate a QR code, offer only SAS Verification
+        if (!this.state.qrCodeProps) {
             return <div className="mx_UserInfo_container">
                 <h3>Verify by emoji</h3>
                 <p>{_t("Verify by comparing unique emoji.")}</p>
@@ -81,12 +89,6 @@ export default class VerificationPanel extends React.PureComponent {
             </div>;
         }
 
-        const myKeyId = cli.getCrossSigningId();
-        const qrCodeKeys = [
-            [cli.getDeviceId(), cli.getDeviceEd25519Key()],
-            [myKeyId, myKeyId],
-        ];
-
         // TODO: add way to open camera to scan a QR code
         return <React.Fragment>
             <div className="mx_UserInfo_container">
@@ -96,13 +98,7 @@ export default class VerificationPanel extends React.PureComponent {
                 })}</p>
 
                 <div className="mx_VerificationPanel_qrCode">
-                    <VerificationQRCode
-                        keyholderUserId={MatrixClientPeg.get().getUserId()}
-                        requestEventId={request.requestEvent.getId()}
-                        otherUserKey={crossSigningInfo.getId("master")}
-                        secret={request.encodedSharedSecret}
-                        keys={qrCodeKeys}
-                    />
+                    <VerificationQRCode {...this.state.qrCodeProps} />
                 </div>
             </div>