diff --git a/google/auth/downscoped.py b/google/auth/downscoped.py
index beea50e..800f289 100644
--- a/google/auth/downscoped.py
+++ b/google/auth/downscoped.py
@@ -48,9 +48,24 @@
 .. _Downscoping with Credential Access Boundaries: https://cloud.google.com/iam/docs/downscoping-short-lived-credentials
 """
 
+import datetime
+
+from google.auth import _helpers
+from google.auth import credentials
+from google.oauth2 import sts
+
 # The maximum number of access boundary rules a Credential Access Boundary can
 # contain.
 _MAX_ACCESS_BOUNDARY_RULES_COUNT = 10
+# The token exchange grant_type used for exchanging credentials.
+_STS_GRANT_TYPE = "urn:ietf:params:oauth:grant-type:token-exchange"
+# The token exchange requested_token_type. This is always an access_token.
+_STS_REQUESTED_TOKEN_TYPE = "urn:ietf:params:oauth:token-type:access_token"
+# The STS token URL used to exchanged a short lived access token for a downscoped one.
+_STS_TOKEN_URL = "https://sts.googleapis.com/v1/token"
+# The subject token type to use when exchanging a short lived access token for a
+# downscoped token.
+_STS_SUBJECT_TOKEN_TYPE = "urn:ietf:params:oauth:token-type:access_token"
 
 
 class CredentialAccessBoundary(object):
@@ -403,3 +418,74 @@
         if self.description:
             json["description"] = self.description
         return json
+
+
+class Credentials(credentials.CredentialsWithQuotaProject):
+    """Defines a set of Google credentials that are downscoped from an existing set
+    of Google OAuth2 credentials. This is useful to restrict the Identity and Access
+    Management (IAM) permissions that a short-lived credential can use.
+    The common pattern of usage is to have a token broker with elevated access
+    generate these downscoped credentials from higher access source credentials and
+    pass the downscoped short-lived access tokens to a token consumer via some
+    secure authenticated channel for limited access to Google Cloud Storage
+    resources.
+    """
+
+    def __init__(
+        self, source_credentials, credential_access_boundary, quota_project_id=None
+    ):
+        """Instantiates a downscoped credentials object using the provided source
+        credentials and credential access boundary rules.
+        To downscope permissions of a source credential, a Credential Access Boundary
+        that specifies which resources the new credential can access, as well as an
+        upper bound on the permissions that are available on each resource, has to be
+        defined. A downscoped credential can then be instantiated using the source
+        credential and the Credential Access Boundary.
+
+        Args:
+            source_credentials (google.auth.credentials.Credentials): The source credentials
+                to be downscoped based on the provided Credential Access Boundary rules.
+            credential_access_boundary (google.auth.downscoped.CredentialAccessBoundary):
+                The Credential Access Boundary which contains a list of access boundary
+                rules. Each rule contains information on the resource that the rule applies to,
+                the upper bound of the permissions that are available on that resource and an
+                optional condition to further restrict permissions.
+            quota_project_id (Optional[str]): The optional quota project ID.
+        Raises:
+            google.auth.exceptions.RefreshError: If the source credentials
+                return an error on token refresh.
+            google.auth.exceptions.OAuthError: If the STS token exchange
+                endpoint returned an error during downscoped token generation.
+        """
+
+        super(Credentials, self).__init__()
+        self._source_credentials = source_credentials
+        self._credential_access_boundary = credential_access_boundary
+        self._quota_project_id = quota_project_id
+        self._sts_client = sts.Client(_STS_TOKEN_URL)
+
+    @_helpers.copy_docstring(credentials.Credentials)
+    def refresh(self, request):
+        # Generate an access token from the source credentials.
+        self._source_credentials.refresh(request)
+        now = _helpers.utcnow()
+        # Exchange the access token for a downscoped access token.
+        response_data = self._sts_client.exchange_token(
+            request=request,
+            grant_type=_STS_GRANT_TYPE,
+            subject_token=self._source_credentials.token,
+            subject_token_type=_STS_SUBJECT_TOKEN_TYPE,
+            requested_token_type=_STS_REQUESTED_TOKEN_TYPE,
+            additional_options=self._credential_access_boundary.to_json(),
+        )
+        self.token = response_data.get("access_token")
+        lifetime = datetime.timedelta(seconds=response_data.get("expires_in"))
+        self.expiry = now + lifetime
+
+    @_helpers.copy_docstring(credentials.CredentialsWithQuotaProject)
+    def with_quota_project(self, quota_project_id):
+        return self.__class__(
+            self._source_credentials,
+            self._credential_access_boundary,
+            quota_project_id=quota_project_id,
+        )
diff --git a/tests/test_downscoped.py b/tests/test_downscoped.py
index 61b1d18..ac60e5b 100644
--- a/tests/test_downscoped.py
+++ b/tests/test_downscoped.py
@@ -12,9 +12,19 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 
-import pytest
+import datetime
+import json
 
+import mock
+import pytest
+from six.moves import http_client
+from six.moves import urllib
+
+from google.auth import _helpers
+from google.auth import credentials
 from google.auth import downscoped
+from google.auth import exceptions
+from google.auth import transport
 
 
 EXPRESSION = (
@@ -36,6 +46,54 @@
 )
 OTHER_AVAILABLE_RESOURCE = "//storage.googleapis.com/projects/_/buckets/other-bucket"
 OTHER_AVAILABLE_PERMISSIONS = ["inRole:roles/storage.objectCreator"]
+QUOTA_PROJECT_ID = "QUOTA_PROJECT_ID"
+GRANT_TYPE = "urn:ietf:params:oauth:grant-type:token-exchange"
+REQUESTED_TOKEN_TYPE = "urn:ietf:params:oauth:token-type:access_token"
+TOKEN_EXCHANGE_ENDPOINT = "https://sts.googleapis.com/v1/token"
+SUBJECT_TOKEN_TYPE = "urn:ietf:params:oauth:token-type:access_token"
+SUCCESS_RESPONSE = {
+    "access_token": "ACCESS_TOKEN",
+    "issued_token_type": "urn:ietf:params:oauth:token-type:access_token",
+    "token_type": "Bearer",
+    "expires_in": 3600,
+}
+ERROR_RESPONSE = {
+    "error": "invalid_grant",
+    "error_description": "Subject token is invalid.",
+    "error_uri": "https://tools.ietf.org/html/rfc6749",
+}
+CREDENTIAL_ACCESS_BOUNDARY_JSON = {
+    "accessBoundary": {
+        "accessBoundaryRules": [
+            {
+                "availablePermissions": AVAILABLE_PERMISSIONS,
+                "availableResource": AVAILABLE_RESOURCE,
+                "availabilityCondition": {
+                    "expression": EXPRESSION,
+                    "title": TITLE,
+                    "description": DESCRIPTION,
+                },
+            }
+        ]
+    }
+}
+
+
+class SourceCredentials(credentials.Credentials):
+    def __init__(self, raise_error=False):
+        super(SourceCredentials, self).__init__()
+        self._counter = 0
+        self._raise_error = raise_error
+
+    def refresh(self, request):
+        if self._raise_error:
+            raise exceptions.RefreshError(
+                "Failed to refresh access token in source credentials."
+            )
+        now = _helpers.utcnow()
+        self._counter += 1
+        self.token = "ACCESS_TOKEN_{}".format(self._counter)
+        self.expiry = now + datetime.timedelta(seconds=3600)
 
 
 def make_availability_condition(expression, title=None, description=None):
@@ -383,3 +441,212 @@
                 ]
             }
         }
+
+
+class TestCredentials(object):
+    @staticmethod
+    def make_credentials(source_credentials=SourceCredentials(), quota_project_id=None):
+        availability_condition = make_availability_condition(
+            EXPRESSION, TITLE, DESCRIPTION
+        )
+        access_boundary_rule = make_access_boundary_rule(
+            AVAILABLE_RESOURCE, AVAILABLE_PERMISSIONS, availability_condition
+        )
+        rules = [access_boundary_rule]
+        credential_access_boundary = make_credential_access_boundary(rules)
+
+        return downscoped.Credentials(
+            source_credentials, credential_access_boundary, quota_project_id
+        )
+
+    @staticmethod
+    def make_mock_request(data, status=http_client.OK):
+        response = mock.create_autospec(transport.Response, instance=True)
+        response.status = status
+        response.data = json.dumps(data).encode("utf-8")
+
+        request = mock.create_autospec(transport.Request)
+        request.return_value = response
+
+        return request
+
+    @staticmethod
+    def assert_request_kwargs(request_kwargs, headers, request_data):
+        """Asserts the request was called with the expected parameters.
+        """
+        assert request_kwargs["url"] == TOKEN_EXCHANGE_ENDPOINT
+        assert request_kwargs["method"] == "POST"
+        assert request_kwargs["headers"] == headers
+        assert request_kwargs["body"] is not None
+        body_tuples = urllib.parse.parse_qsl(request_kwargs["body"])
+        for (k, v) in body_tuples:
+            assert v.decode("utf-8") == request_data[k.decode("utf-8")]
+        assert len(body_tuples) == len(request_data.keys())
+
+    def test_default_state(self):
+        credentials = self.make_credentials()
+
+        # No token acquired yet.
+        assert not credentials.token
+        assert not credentials.valid
+        # Expiration hasn't been set yet.
+        assert not credentials.expiry
+        assert not credentials.expired
+        # No quota project ID set.
+        assert not credentials.quota_project_id
+
+    def test_with_quota_project(self):
+        credentials = self.make_credentials()
+
+        assert not credentials.quota_project_id
+
+        quota_project_creds = credentials.with_quota_project("project-foo")
+
+        assert quota_project_creds.quota_project_id == "project-foo"
+
+    @mock.patch("google.auth._helpers.utcnow", return_value=datetime.datetime.min)
+    def test_refresh(self, unused_utcnow):
+        response = SUCCESS_RESPONSE.copy()
+        # Test custom expiration to confirm expiry is set correctly.
+        response["expires_in"] = 2800
+        expected_expiry = datetime.datetime.min + datetime.timedelta(
+            seconds=response["expires_in"]
+        )
+        headers = {"Content-Type": "application/x-www-form-urlencoded"}
+        request_data = {
+            "grant_type": GRANT_TYPE,
+            "subject_token": "ACCESS_TOKEN_1",
+            "subject_token_type": SUBJECT_TOKEN_TYPE,
+            "requested_token_type": REQUESTED_TOKEN_TYPE,
+            "options": urllib.parse.quote(json.dumps(CREDENTIAL_ACCESS_BOUNDARY_JSON)),
+        }
+        request = self.make_mock_request(status=http_client.OK, data=response)
+        source_credentials = SourceCredentials()
+        credentials = self.make_credentials(source_credentials=source_credentials)
+
+        # Spy on calls to source credentials refresh to confirm the expected request
+        # instance is used.
+        with mock.patch.object(
+            source_credentials, "refresh", wraps=source_credentials.refresh
+        ) as wrapped_souce_cred_refresh:
+            credentials.refresh(request)
+
+            self.assert_request_kwargs(request.call_args[1], headers, request_data)
+            assert credentials.valid
+            assert credentials.expiry == expected_expiry
+            assert not credentials.expired
+            assert credentials.token == response["access_token"]
+            # Confirm source credentials called with the same request instance.
+            wrapped_souce_cred_refresh.assert_called_with(request)
+
+    def test_refresh_token_exchange_error(self):
+        request = self.make_mock_request(
+            status=http_client.BAD_REQUEST, data=ERROR_RESPONSE
+        )
+        credentials = self.make_credentials()
+
+        with pytest.raises(exceptions.OAuthError) as excinfo:
+            credentials.refresh(request)
+
+        assert excinfo.match(
+            r"Error code invalid_grant: Subject token is invalid. - https://tools.ietf.org/html/rfc6749"
+        )
+        assert not credentials.expired
+        assert credentials.token is None
+
+    def test_refresh_source_credentials_refresh_error(self):
+        # Initialize downscoped credentials with source credentials that raise
+        # an error on refresh.
+        credentials = self.make_credentials(
+            source_credentials=SourceCredentials(raise_error=True)
+        )
+
+        with pytest.raises(exceptions.RefreshError) as excinfo:
+            credentials.refresh(mock.sentinel.request)
+
+        assert excinfo.match(r"Failed to refresh access token in source credentials.")
+        assert not credentials.expired
+        assert credentials.token is None
+
+    def test_apply_without_quota_project_id(self):
+        headers = {}
+        request = self.make_mock_request(status=http_client.OK, data=SUCCESS_RESPONSE)
+        credentials = self.make_credentials()
+
+        credentials.refresh(request)
+        credentials.apply(headers)
+
+        assert headers == {
+            "authorization": "Bearer {}".format(SUCCESS_RESPONSE["access_token"])
+        }
+
+    def test_apply_with_quota_project_id(self):
+        headers = {"other": "header-value"}
+        request = self.make_mock_request(status=http_client.OK, data=SUCCESS_RESPONSE)
+        credentials = self.make_credentials(quota_project_id=QUOTA_PROJECT_ID)
+
+        credentials.refresh(request)
+        credentials.apply(headers)
+
+        assert headers == {
+            "other": "header-value",
+            "authorization": "Bearer {}".format(SUCCESS_RESPONSE["access_token"]),
+            "x-goog-user-project": QUOTA_PROJECT_ID,
+        }
+
+    def test_before_request(self):
+        headers = {"other": "header-value"}
+        request = self.make_mock_request(status=http_client.OK, data=SUCCESS_RESPONSE)
+        credentials = self.make_credentials()
+
+        # First call should call refresh, setting the token.
+        credentials.before_request(request, "POST", "https://example.com/api", headers)
+
+        assert headers == {
+            "other": "header-value",
+            "authorization": "Bearer {}".format(SUCCESS_RESPONSE["access_token"]),
+        }
+
+        # Second call shouldn't call refresh (request should be untouched).
+        credentials.before_request(
+            mock.sentinel.request, "POST", "https://example.com/api", headers
+        )
+
+        assert headers == {
+            "other": "header-value",
+            "authorization": "Bearer {}".format(SUCCESS_RESPONSE["access_token"]),
+        }
+
+    @mock.patch("google.auth._helpers.utcnow")
+    def test_before_request_expired(self, utcnow):
+        headers = {}
+        request = self.make_mock_request(status=http_client.OK, data=SUCCESS_RESPONSE)
+        credentials = self.make_credentials()
+        credentials.token = "token"
+        utcnow.return_value = datetime.datetime.min
+        # Set the expiration to one second more than now plus the clock skew
+        # accommodation. These credentials should be valid.
+        credentials.expiry = (
+            datetime.datetime.min + _helpers.CLOCK_SKEW + datetime.timedelta(seconds=1)
+        )
+
+        assert credentials.valid
+        assert not credentials.expired
+
+        credentials.before_request(request, "POST", "https://example.com/api", headers)
+
+        # Cached token should be used.
+        assert headers == {"authorization": "Bearer token"}
+
+        # Next call should simulate 1 second passed.
+        utcnow.return_value = datetime.datetime.min + datetime.timedelta(seconds=1)
+
+        assert not credentials.valid
+        assert credentials.expired
+
+        credentials.before_request(request, "POST", "https://example.com/api", headers)
+
+        # New token should be retrieved.
+        assert headers == {
+            "authorization": "Bearer {}".format(SUCCESS_RESPONSE["access_token"])
+        }