diff --git a/Cargo.lock b/Cargo.lock
index 221d65eb..9eb8ebc4 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -3761,9 +3761,9 @@ checksum = "1f3ccbac311fea05f86f61904b462b55fb3df8837a366dfc601a0161d0532f20"
 
 [[package]]
 name = "tokio"
-version = "1.34.0"
+version = "1.35.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d0c014766411e834f7af5b8f4cf46257aab4036ca95e9d2c144a10f59ad6f5b9"
+checksum = "c89b4efa943be685f629b149f53829423f8f5531ea21249408e8e2f8671ec104"
 dependencies = [
  "backtrace",
  "bytes",
diff --git a/Cargo.toml b/Cargo.toml
index 774b6437..2cf93d7a 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -29,7 +29,7 @@ serde_with = { version = "3.4.0", features = ["chrono_0_4"] }
 sqlx = { version = "0.7.2", features = [ "runtime-tokio-rustls", "postgres", "rust_decimal", "uuid", "chrono", "json" ] }
 sqlxmq = { version = "0.5.0", default-features = false, features = ["runtime-tokio-rustls"] }
 sqlx-ledger = { version = "0.11.1", features = ["otel"] }
-tokio = { version = "1.34.0", features = ["full"] }
+tokio = { version = "1.35.1", features = ["full"] }
 futures = "0.3.27"
 async-trait = "0.1.74"
 thiserror = "1.0.49"
diff --git a/galoy-client/Cargo.toml b/galoy-client/Cargo.toml
index 82d14fcf..5404ae74 100644
--- a/galoy-client/Cargo.toml
+++ b/galoy-client/Cargo.toml
@@ -25,4 +25,4 @@ opentelemetry-http = { workspace = true }
 
 [dev-dependencies]
 anyhow = "1.0.70"
-tokio = { version = "1.34.0", features = ["macros"] }
+tokio = { version = "1.35.1", features = ["macros"] }