diff --git a/.github/workflows/rust.yml b/.github/workflows/rust.yml
index 56d4838ce..f435fdda7 100644
--- a/.github/workflows/rust.yml
+++ b/.github/workflows/rust.yml
@@ -55,7 +55,7 @@ jobs:
         run: ./contrib/test.sh
 
   MSRV:
-    name: Test - 1.48.0 toolchain
+    name: Test - 1.56.1 toolchain
     runs-on: ubuntu-latest
     strategy:
       fail-fast: false
@@ -63,7 +63,7 @@ jobs:
       - name: Checkout Crate
         uses: actions/checkout@v3
       - name: Checkout Toolchain
-        uses: dtolnay/rust-toolchain@1.48.0
+        uses: dtolnay/rust-toolchain@1.56.1
       - name: Running test script
         env:
           DO_FEATURE_MATRIX: true
diff --git a/CHANGELOG.md b/CHANGELOG.md
index db7cbb266..928049dd1 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,7 @@
+# Unreleased
+
+* Bump MSRV to Rust `v1.56.1`
+
 # 0.28.2 - 2024-01-30
 
 * Implement `Hash` for `Scalar` [#674](https://github.com/rust-bitcoin/rust-secp256k1/pull/674)
diff --git a/Cargo.toml b/Cargo.toml
index 942835bb7..b6e1dcf72 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -10,7 +10,8 @@ documentation = "https://docs.rs/secp256k1/"
 description = "Rust wrapper library for Pieter Wuille's `libsecp256k1`. Implements ECDSA and BIP 340 signatures for the SECG elliptic curve group secp256k1 and related utilities."
 keywords = [ "crypto", "ECDSA", "secp256k1", "libsecp256k1", "bitcoin" ]
 readme = "README.md"
-edition = "2018"
+edition = "2021"
+rust-version = "1.56.1"
 
 [package.metadata.docs.rs]
 all-features = true
diff --git a/README.md b/README.md
index ca4efa31b..7cb55adf3 100644
--- a/README.md
+++ b/README.md
@@ -6,7 +6,7 @@
     <a href="https://github.com/rust-bitcoin/rust-secp256k1/blob/master/LICENSE"><img alt="CC0 1.0 Universal Licensed" src="https://img.shields.io/badge/license-CC0--1.0-blue.svg"/></a>
     <a href="https://github.com/rust-bitcoin/rust-secp256k1/actions?query=workflow%3AContinuous%20integration"><img alt="CI Status" src="https://github.com/rust-bitcoin/rust-secp256k1/workflows/Continuous%20integration/badge.svg"></a>
     <a href="https://docs.rs/secp256k1"><img alt="API Docs" src="https://img.shields.io/badge/docs.rs-secp256k1-green"/></a>
-    <a href="https://blog.rust-lang.org/2020/02/27/Rust-1.48.0.html"><img alt="Rustc Version 1.48.0+" src="https://img.shields.io/badge/rustc-1.48.0%2B-lightgrey.svg"/></a>
+    <a href="https://blog.rust-lang.org/2020/02/27/Rust-1.56.1.html"><img alt="Rustc Version 1.56.1+" src="https://img.shields.io/badge/rustc-1.56.1.0%2B-lightgrey.svg"/></a>
   </p>
 </div>
 
@@ -29,7 +29,7 @@ Contributions to this library are welcome. A few guidelines:
 * Any breaking changes must have an accompanied entry in CHANGELOG.md
 * No new dependencies, please.
 * No crypto should be implemented in Rust, with the possible exception of hash functions. Cryptographic contributions should be directed upstream to libsecp256k1.
-* This library should always compile with any combination of features on **Rust 1.48.0**.
+* This library should always compile with any combination of features on **Rust 1.56.1**.
 
 ### Githooks
 
diff --git a/clippy.toml b/clippy.toml
index 11d46a73f..56ce04e44 100644
--- a/clippy.toml
+++ b/clippy.toml
@@ -1 +1 @@
-msrv = "1.48.0"
+msrv = "1.56.1"
diff --git a/secp256k1-sys/CHANGELOG.md b/secp256k1-sys/CHANGELOG.md
index 327792a31..77e84853d 100644
--- a/secp256k1-sys/CHANGELOG.md
+++ b/secp256k1-sys/CHANGELOG.md
@@ -1,3 +1,7 @@
+# Unreleased
+
+* Bump MSRV to Rust `v1.56.1`
+
 # 0.9.2 - 2023-12-18
 
 * Fix incorrect FFI binding for `secp256k1_pubkey_combine`
diff --git a/secp256k1-sys/Cargo.toml b/secp256k1-sys/Cargo.toml
index f565c5bd9..2ca55b53d 100644
--- a/secp256k1-sys/Cargo.toml
+++ b/secp256k1-sys/Cargo.toml
@@ -13,7 +13,8 @@ keywords = [ "secp256k1", "libsecp256k1", "ffi" ]
 readme = "README.md"
 build = "build.rs"
 links = "rustsecp256k1_v0_9_2"
-edition = "2018"
+edition = "2021"
+rust-version = "1.56.1"
 
 [package.metadata.docs.rs]
 all-features = true
diff --git a/secp256k1-sys/README.md b/secp256k1-sys/README.md
index 3305e2d37..5d4649b7f 100644
--- a/secp256k1-sys/README.md
+++ b/secp256k1-sys/README.md
@@ -5,7 +5,7 @@
     <a href="https://crates.io/crates/secp256k1-sys"><img alt="Crate Info" src="https://img.shields.io/crates/v/secp256k1-sys.svg"/></a>
     <a href="https://github.com/rust-bitcoin/rust-secp256k1/blob/master/LICENSE"><img alt="CC0 1.0 Universal Licensed" src="https://img.shields.io/badge/license-CC0--1.0-blue.svg"/></a>
     <a href="https://docs.rs/secp256k1"><img alt="API Docs" src="https://img.shields.io/badge/docs.rs-secp256k1-green"/></a>
-    <a href="https://blog.rust-lang.org/2020/02/27/Rust-1.48.0.html"><img alt="Rustc Version 1.48.0+" src="https://img.shields.io/badge/rustc-1.48.0%2B-lightgrey.svg"/></a>
+    <a href="https://blog.rust-lang.org/2020/02/27/Rust-1.56.1.html"><img alt="Rustc Version 1.56.1+" src="https://img.shields.io/badge/rustc-1.56.1%2B-lightgrey.svg"/></a>
   </p>
 </div>
 
@@ -49,4 +49,4 @@ to your `RUSTFLAGS` variable.
 
 ## Minimum Supported Rust Version
 
-This library should always compile with any combination of features on **Rust 1.48.0**.
+This library should always compile with any combination of features on **Rust 1.56.1**.