diff --git a/Cargo.lock b/Cargo.lock
index ffac66bdc9e7c..ed807949ac259 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -5280,12 +5280,13 @@ dependencies = [
 
 [[package]]
 name = "nkeys"
-version = "0.3.0"
+version = "0.3.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "c2d151f6ece2f3d1077f6c779268de2516653d8344ddde65addd785cce764fe5"
+checksum = "3e9261eb915c785ea65708bc45ef43507ea46914e1a73f1412d1a38aba967c8e"
 dependencies = [
  "byteorder",
  "data-encoding",
+ "ed25519",
  "ed25519-dalek",
  "getrandom 0.2.10",
  "log",
@@ -9357,7 +9358,7 @@ dependencies = [
  "mongodb",
  "nats",
  "nix 0.26.2",
- "nkeys 0.3.0",
+ "nkeys 0.3.1",
  "nom",
  "notify",
  "num-format",
diff --git a/Cargo.toml b/Cargo.toml
index 87581d055c5c3..a1a579547f57b 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -285,7 +285,7 @@ maxminddb = { version = "0.23.0", default-features = false, optional = true }
 md-5 = { version = "0.10", default-features = false, optional = true }
 mongodb = { version = "2.6.0", default-features = false, features = ["tokio-runtime"], optional = true }
 nats = { version = "0.24.0", default-features = false, optional = true }
-nkeys = { version = "0.3.0", default-features = false, optional = true }
+nkeys = { version = "0.3.1", default-features = false, optional = true }
 nom = { version = "7.1.3", default-features = false, optional = true }
 notify = { version = "6.0.1", default-features = false, features = ["macos_fsevent"] }
 once_cell = { version = "1.18", default-features = false }