diff --git a/Cargo.lock b/Cargo.lock
index fb41890be1..7042e76eb5 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -207,10 +207,10 @@ version = "0.1.0"
 dependencies = [
  "aries-vcx",
  "derive_builder 0.11.2",
- "failure",
  "log",
  "serde",
  "serde_json",
+ "thiserror",
  "uuid 1.2.1",
 ]
 
@@ -1943,7 +1943,6 @@ dependencies = [
  "chrono",
  "derive_builder 0.10.2",
  "env_logger",
- "failure",
  "lazy_static",
  "libvdrtools",
  "log",
@@ -1955,6 +1954,7 @@ dependencies = [
  "serde_json",
  "strum",
  "strum_macros",
+ "thiserror",
  "time",
  "tokio",
  "url",
@@ -3372,18 +3372,18 @@ dependencies = [
 
 [[package]]
 name = "thiserror"
-version = "1.0.36"
+version = "1.0.37"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0a99cb8c4b9a8ef0e7907cd3b617cc8dc04d571c4e73c8ae403d80ac160bb122"
+checksum = "10deb33631e3c9018b9baf9dcbbc4f737320d2b576bac10f6aefa048fa407e3e"
 dependencies = [
  "thiserror-impl",
 ]
 
 [[package]]
 name = "thiserror-impl"
-version = "1.0.36"
+version = "1.0.37"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3a891860d3c8d66fec8e73ddb3765f90082374dbaaa833407b904a94f1a7eb43"
+checksum = "982d17546b47146b28f7c22e3d08465f6b8903d0ea13c1660d9d84a6e7adcdbb"
 dependencies = [
  "proc-macro2",
  "quote",
diff --git a/agents/rust/aries-vcx-agent/Cargo.toml b/agents/rust/aries-vcx-agent/Cargo.toml
index 7e2d96b656..f82bd02945 100644
--- a/agents/rust/aries-vcx-agent/Cargo.toml
+++ b/agents/rust/aries-vcx-agent/Cargo.toml
@@ -4,10 +4,10 @@ version = "0.1.0"
 edition = "2021"
 
 [dependencies]
-failure = "0.1.8"
 serde = "1.0.145"
 aries-vcx = { path = "../../../aries_vcx" }
 derive_builder = "0.11.2"
 serde_json = "1.0.85"
 log = "0.4.17"
 uuid = "1.2.1"
+thiserror = "1.0.37"
diff --git a/agents/rust/aries-vcx-agent/src/error/error_kind.rs b/agents/rust/aries-vcx-agent/src/error/error_kind.rs
index dc9c23852a..5a0f19a3a3 100644
--- a/agents/rust/aries-vcx-agent/src/error/error_kind.rs
+++ b/agents/rust/aries-vcx-agent/src/error/error_kind.rs
@@ -1,21 +1,19 @@
-use failure::Fail;
-
-#[derive(Copy, Clone, Eq, PartialEq, Debug, Fail)]
+#[derive(Copy, Clone, Eq, PartialEq, Debug, thiserror::Error)]
 pub enum AgentErrorKind {
-    #[fail(display = "AriesVCX error")]
+    #[error("AriesVCX error")]
     GenericAriesVcxError,
-    #[fail(display = "Failed to get invite details")]
+    #[error("Failed to get invite details")]
     InviteDetails,
-    #[fail(display = "No object found with specified ID")]
+    #[error("No object found with specified ID")]
     NotFound,
-    #[fail(display = "Unable to lock storage")]
+    #[error("Unable to lock storage")]
     LockError,
-    #[fail(display = "Serialization error")]
+    #[error("Serialization error")]
     SerializationError,
-    #[fail(display = "Invalid arguments passed")]
+    #[error("Invalid arguments passed")]
     InvalidArguments,
-    #[fail(display = "Credential definition already exists on the ledger")]
+    #[error("Credential definition already exists on the ledger")]
     CredDefAlreadyCreated,
-    #[fail(display = "Mediated connections not configured")]
+    #[error("Mediated connections not configured")]
     MediatedConnectionServiceUnavailable,
 }