diff --git a/pytest/tests/loadtest/locust/common/ft.py b/pytest/tests/loadtest/locust/common/ft.py
index 424ef4e9aa4..1c68accc474 100644
--- a/pytest/tests/loadtest/locust/common/ft.py
+++ b/pytest/tests/loadtest/locust/common/ft.py
@@ -1,3 +1,4 @@
+import logging
 from concurrent import futures
 import random
 import string
@@ -53,7 +54,7 @@ def register_passive_user(self, node: NearNodeProxy, account: Account):
         """
         Passive users are only used as receiver, not as signer.
         """
-        node.send_tx_retry(InitFTAccount(self.account, account),
+        node.send_tx_async(InitFTAccount(self.account, account),
                            locust_name="Init FT Account")
         self.registered_users.append(account.key.account_id)
 
@@ -85,20 +86,30 @@ def create_passive_users(self,
         assert prefix_len > 4, f"user key {parent.key.account_id} is too long"
         chars = string.ascii_lowercase + string.digits
 
-        def create_account():
-            prefix = ''.join(random.choices(chars, k=prefix_len))
+        def create_account(i):
+            prefix = ''.join(random.Random(i).choices(chars, k=prefix_len))
             account_id = f"{prefix}.{parent.key.account_id}"
             return Account(key.Key.from_seed_testonly(account_id))
 
-        accounts = [create_account() for _ in range(num)]
-        node.prepare_accounts(accounts,
-                              parent,
-                              balance=1,
-                              msg="create passive user")
-        with futures.ThreadPoolExecutor() as executor:
-            futures.wait(
-                executor.submit(self.register_passive_user, node, account)
-                for account in accounts)
+        with futures.ThreadPoolExecutor(max_workers=4) as executor:
+            batch_size = 500
+            num_batches = (num + batch_size - 1) // batch_size
+            for i in range(num_batches):
+                accounts = [
+                    create_account(i)
+                    for i in range(i * batch_size, min((i + 1) *
+                                                       batch_size, num))
+                ]
+                node.prepare_accounts(accounts,
+                                      parent,
+                                      balance=1,
+                                      msg="create passive user")
+                futures.wait(
+                    executor.submit(self.register_passive_user, node, account)
+                    for account in accounts)
+                logging.info(
+                    f"{parent.key.account_id}: Processed batch {i + 1}/{num_batches}, created {(i + 1) * batch_size} users"
+                )
 
 
 class TransferFT(FunctionCall):
@@ -183,7 +194,12 @@ def on_locust_init(environment, **kwargs):
         ft_account = Account(contract_key)
         ft_contract = FTContract(ft_account, ft_account, ft_contract_code)
         ft_contract.install(node, funding_account)
+        if environment.parsed_options.num_passive_users > 0:
+            ft_contract.create_passive_users(
+                environment.parsed_options.num_passive_users, node,
+                funding_account)
         environment.ft_contracts.append(ft_contract)
+        logging.info(f"Finished setup for account {i} on worker {parent_id}")
 
 
 # FT specific CLI args
@@ -205,3 +221,8 @@ def _(parser):
         help=
         "Whether the names of FT contracts will deterministically based on worker id and run id."
     )
+    parser.add_argument(
+        "--num-passive-users",
+        type=int,
+        default=0,
+        help="Number of passive users to create in each FT contract.")