diff --git a/.github/workflows/rust.yaml b/.github/workflows/rust.yaml
index 18ac533..417fbcb 100644
--- a/.github/workflows/rust.yaml
+++ b/.github/workflows/rust.yaml
@@ -56,7 +56,7 @@ 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
@@ -64,7 +64,7 @@ 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 ab98e5f..9b71e59 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,7 @@
+# unrelease
+
+- Bump MSRV to 1.56.1
+
 # 0.1.1 - 2023-07-19
 
 - [Add `test_hex_unwrap`](https://github.com/rust-bitcoin/hex-conservative/pull/24) hex parsing macro for test usage.
diff --git a/README.md b/README.md
index c78a6dd..546ef87 100644
--- a/README.md
+++ b/README.md
@@ -4,7 +4,7 @@ General purpose hex encoding/decoding library with a conservative MSRV and depen
 
 ## Minimum Supported Rust Version (MSRV)
 
-This library should compile with almost any combination of features on **Rust 1.48.0**, however we
+This library should compile with almost any combination of features on **Rust 1.56.1**, however we
 reserve the right to use features to guard compiler specific code so `--all-features` may not work
 using the MSRV toolchain.
 
diff --git a/clippy.toml b/clippy.toml
index 11d46a7..56ce04e 100644
--- a/clippy.toml
+++ b/clippy.toml
@@ -1 +1 @@
-msrv = "1.48.0"
+msrv = "1.56.1"