diff --git a/token/cli/src/config.rs b/token/cli/src/config.rs
index 72be7f30495..adc405c97e6 100644
--- a/token/cli/src/config.rs
+++ b/token/cli/src/config.rs
@@ -187,13 +187,13 @@ impl<'a> Config<'a> {
         };
 
         let default_keypair = cli_config.keypair_path.clone();
-        let default_keypair_source =
-            SignerSource::parse(&default_keypair).unwrap_or_else(print_error_and_exit);
         let default_signer: Option<Arc<dyn Signer>> = {
             if let Some(source) = matches.try_get_one::<SignerSource>("owner").ok().flatten() {
                 signer_from_source_with_config(matches, source, "owner", wallet_manager, &config)
                     .ok()
             } else {
+                let default_keypair_source =
+                    SignerSource::parse(&default_keypair).unwrap_or_else(print_error_and_exit);
                 signer_from_source_with_config(
                     matches,
                     &default_keypair_source,