diff --git a/Cargo.lock b/Cargo.lock
index 412ed42a608..c45b818dc8a 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2957,7 +2957,7 @@ dependencies = [
  "anyhow",
  "clap 4.4.5",
  "fuel-core-types",
- "libp2p-core 0.38.0",
+ "libp2p-identity 0.2.4",
  "serde_json",
 ]
 
@@ -4373,7 +4373,7 @@ dependencies = [
  "futures",
  "futures-timer",
  "instant",
- "libp2p-identity",
+ "libp2p-identity 0.1.3",
  "log",
  "multiaddr 0.17.1",
  "multihash 0.17.0",
@@ -4473,6 +4473,25 @@ dependencies = [
  "zeroize",
 ]
 
+[[package]]
+name = "libp2p-identity"
+version = "0.2.4"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "f37304f29c82ede408db06aaba60cd2f783a111f46414d3fc4beedac19e0c67b"
+dependencies = [
+ "asn1_der",
+ "bs58 0.5.0",
+ "hkdf",
+ "libsecp256k1",
+ "log",
+ "multihash 0.19.1",
+ "quick-protobuf",
+ "rand 0.8.5",
+ "sha2 0.10.8",
+ "thiserror",
+ "zeroize",
+]
+
 [[package]]
 name = "libp2p-kad"
 version = "0.42.0"
@@ -4586,7 +4605,7 @@ dependencies = [
  "curve25519-dalek 3.2.0",
  "futures",
  "libp2p-core 0.39.2",
- "libp2p-identity",
+ "libp2p-identity 0.1.3",
  "log",
  "once_cell",
  "quick-protobuf",
@@ -4610,7 +4629,7 @@ dependencies = [
  "futures-timer",
  "if-watch",
  "libp2p-core 0.39.2",
- "libp2p-identity",
+ "libp2p-identity 0.1.3",
  "libp2p-tls",
  "log",
  "parking_lot 0.12.1",
@@ -4697,7 +4716,7 @@ dependencies = [
  "futures",
  "futures-rustls",
  "libp2p-core 0.39.2",
- "libp2p-identity",
+ "libp2p-identity 0.1.3",
  "rcgen 0.10.0",
  "ring",
  "rustls 0.20.9",
@@ -4721,7 +4740,7 @@ dependencies = [
  "hex",
  "if-watch",
  "libp2p-core 0.39.2",
- "libp2p-identity",
+ "libp2p-identity 0.1.3",
  "libp2p-noise 0.42.2",
  "log",
  "multihash 0.17.0",
@@ -5140,6 +5159,16 @@ dependencies = [
  "unsigned-varint",
 ]
 
+[[package]]
+name = "multihash"
+version = "0.19.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "076d548d76a0e2a0d4ab471d0b1c36c577786dfc4471242035d97a12a735c492"
+dependencies = [
+ "core2",
+ "unsigned-varint",
+]
+
 [[package]]
 name = "multihash-derive"
 version = "0.8.1"
diff --git a/bin/keygen/Cargo.toml b/bin/keygen/Cargo.toml
index 87abf698b89..b74b70fb958 100644
--- a/bin/keygen/Cargo.toml
+++ b/bin/keygen/Cargo.toml
@@ -13,5 +13,5 @@ description = "Command line utilities for fuel-core key management"
 anyhow = { workspace = true }
 clap = { workspace = true, features = ["derive", "env"] }
 fuel-core-types = { workspace = true, features = ["serde", "random"] }
-libp2p-core = { version = "0.38", features = ["secp256k1"] }
+libp2p-identity = { version = "0.2.4", features = ["secp256k1", "peerid"] }
 serde_json = { workspace = true, features = ["raw_value"] }
diff --git a/bin/keygen/src/keygen.rs b/bin/keygen/src/keygen.rs
index caa59937920..5a7458815bd 100644
--- a/bin/keygen/src/keygen.rs
+++ b/bin/keygen/src/keygen.rs
@@ -1,50 +1,19 @@
-use clap::{
-    Parser,
-    ValueEnum,
-};
+use clap::ValueEnum;
 use fuel_core_types::{
     fuel_crypto::{
-        rand::{
-            prelude::StdRng,
-            SeedableRng,
-        },
+        rand::{prelude::StdRng, SeedableRng},
         SecretKey,
     },
     fuel_tx::Input,
 };
-use libp2p_core::{
-    identity::{
-        secp256k1,
-        Keypair,
-    },
-    PeerId,
-};
+use libp2p_identity::{secp256k1, Keypair, PeerId};
 use serde_json::json;
-use std::{
-    ops::Deref,
-    str::FromStr,
-};
-
-/// Key management utilities for configuring fuel-core
-#[derive(Debug, Parser)]
-pub(crate) enum Command {
-    New(NewKey),
-    Parse(ParseSecret),
-}
-
-impl Command {
-    pub(crate) fn exec(&self) -> anyhow::Result<()> {
-        match self {
-            Command::New(cmd) => cmd.exec(),
-            Command::Parse(cmd) => cmd.exec(),
-        }
-    }
-}
+use std::{ops::Deref, str::FromStr};
 
 /// Generate a random new secret & public key in the format expected by fuel-core
 #[derive(Debug, clap::Args)]
 #[clap(author, version, about)]
-pub(crate) struct NewKey {
+pub struct NewKey {
     #[clap(long = "pretty", short = 'p')]
     pretty: bool,
     #[clap(
@@ -57,14 +26,14 @@ pub(crate) struct NewKey {
 }
 
 #[derive(Clone, Debug, Default, ValueEnum)]
-pub(crate) enum KeyType {
+pub enum KeyType {
     #[default]
     BlockProduction,
     Peering,
 }
 
 impl NewKey {
-    fn exec(&self) -> anyhow::Result<()> {
+    pub fn exec(&self) -> anyhow::Result<()> {
         let mut rng = StdRng::from_entropy();
         let secret = SecretKey::random(&mut rng);
         let public_key = secret.public_key();
@@ -81,9 +50,10 @@ impl NewKey {
             }
             KeyType::Peering => {
                 let mut bytes = *secret.deref();
-                let p2p_secret = secp256k1::SecretKey::from_bytes(&mut bytes)
+                let p2p_secret = secp256k1::SecretKey::try_from_bytes(&mut bytes)
                     .expect("Should be a valid private key");
-                let libp2p_keypair = Keypair::Secp256k1(p2p_secret.into());
+                let p2p_keypair = secp256k1::Keypair::from(p2p_secret);
+                let libp2p_keypair = Keypair::from(p2p_keypair);
                 let peer_id = PeerId::from_public_key(&libp2p_keypair.public());
                 json!({
                     "secret": secret_str,
@@ -99,7 +69,7 @@ impl NewKey {
 /// Parse a secret key to view the associated public key
 #[derive(Debug, clap::Args)]
 #[clap(author, version, about)]
-pub(crate) struct ParseSecret {
+pub struct ParseSecret {
     secret: String,
     #[clap(long = "pretty", short = 'p')]
     pretty: bool,
@@ -113,7 +83,7 @@ pub(crate) struct ParseSecret {
 }
 
 impl ParseSecret {
-    fn exec(&self) -> anyhow::Result<()> {
+    pub fn exec(&self) -> anyhow::Result<()> {
         let secret = SecretKey::from_str(&self.secret)?;
         match self.key_type {
             KeyType::BlockProduction => {
@@ -126,9 +96,10 @@ impl ParseSecret {
             }
             KeyType::Peering => {
                 let mut bytes = *secret.deref();
-                let p2p_secret = secp256k1::SecretKey::from_bytes(&mut bytes)
+                let p2p_secret = secp256k1::SecretKey::try_from_bytes(&mut bytes)
                     .expect("Should be a valid private key");
-                let libp2p_keypair = Keypair::Secp256k1(p2p_secret.into());
+                let p2p_keypair = secp256k1::Keypair::from(p2p_secret);
+                let libp2p_keypair = Keypair::from(p2p_keypair);
                 let peer_id = PeerId::from_public_key(&libp2p_keypair.public());
                 let output = json!({
                     "peer_id": peer_id.to_string(),
diff --git a/bin/keygen/src/lib.rs b/bin/keygen/src/lib.rs
new file mode 100644
index 00000000000..51bb95fabb1
--- /dev/null
+++ b/bin/keygen/src/lib.rs
@@ -0,0 +1,3 @@
+//! Keygen crate
+
+pub mod keygen;
diff --git a/bin/keygen/src/main.rs b/bin/keygen/src/main.rs
index 62fbb198ba6..c05cef36f68 100644
--- a/bin/keygen/src/main.rs
+++ b/bin/keygen/src/main.rs
@@ -1,10 +1,25 @@
 //! A simple keygen cli utility tool for configuring fuel-core
 
 use clap::Parser;
+use fuel_core_keygen::keygen;
 
-pub mod keygen;
+/// Key management utilities for configuring fuel-core
+#[derive(Debug, Parser)]
+pub(crate) enum Command {
+    New(keygen::NewKey),
+    Parse(keygen::ParseSecret),
+}
+
+impl Command {
+    pub(crate) fn exec(&self) -> anyhow::Result<()> {
+        match self {
+            Command::New(cmd) => cmd.exec(),
+            Command::Parse(cmd) => cmd.exec(),
+        }
+    }
+}
 
 fn main() -> anyhow::Result<()> {
-    let cmd = keygen::Command::parse();
+    let cmd = Command::parse();
     cmd.exec()
 }