diff --git a/docker-compose.yml b/docker-compose.yml
index b63f7403652..cc6b74180ba 100644
--- a/docker-compose.yml
+++ b/docker-compose.yml
@@ -2,7 +2,7 @@ version: "3.5"
 
 services:
   cardano-node:
-    image: inputoutput/cardano-node:1.24.2
+    image: inputoutput/cardano-node:1.25.1
     environment:
       NETWORK:
     volumes:
@@ -18,7 +18,7 @@ services:
         max-size: "50m"
 
   cardano-wallet:
-    image: inputoutput/cardano-wallet:2021.1.12-shelley
+    image: inputoutput/cardano-wallet:2021.1.28-shelley
     volumes:
       - wallet-${NETWORK}-db:/wallet-db
       - node-ipc:/ipc
diff --git a/lib/cli/cardano-wallet-cli.cabal b/lib/cli/cardano-wallet-cli.cabal
index c9568bed704..93fd560d624 100644
--- a/lib/cli/cardano-wallet-cli.cabal
+++ b/lib/cli/cardano-wallet-cli.cabal
@@ -1,5 +1,5 @@
 name:                cardano-wallet-cli
-version:             2021.1.12
+version:             2021.1.28
 synopsis:            Utilities for a building Command-Line Interfaces
 homepage:            https://github.com/input-output-hk/cardano-wallet
 author:              IOHK Engineering Team
diff --git a/lib/core-integration/cardano-wallet-core-integration.cabal b/lib/core-integration/cardano-wallet-core-integration.cabal
index 8865547a7f2..bff2ccb9946 100644
--- a/lib/core-integration/cardano-wallet-core-integration.cabal
+++ b/lib/core-integration/cardano-wallet-core-integration.cabal
@@ -1,5 +1,5 @@
 name:                cardano-wallet-core-integration
-version:             2021.1.12
+version:             2021.1.28
 synopsis:            Core integration test library.
 description:         Shared core functionality for our integration test suites.
 homepage:            https://github.com/input-output-hk/cardano-wallet
diff --git a/lib/core/cardano-wallet-core.cabal b/lib/core/cardano-wallet-core.cabal
index 7cf6358a832..e015975e130 100644
--- a/lib/core/cardano-wallet-core.cabal
+++ b/lib/core/cardano-wallet-core.cabal
@@ -1,5 +1,5 @@
 name:                cardano-wallet-core
-version:             2021.1.12
+version:             2021.1.28
 synopsis:            The Wallet Backend for a Cardano node.
 description:         Please see README.md
 homepage:            https://github.com/input-output-hk/cardano-wallet
diff --git a/lib/launcher/cardano-wallet-launcher.cabal b/lib/launcher/cardano-wallet-launcher.cabal
index 855c026edb7..9a2da775dbd 100644
--- a/lib/launcher/cardano-wallet-launcher.cabal
+++ b/lib/launcher/cardano-wallet-launcher.cabal
@@ -1,5 +1,5 @@
 name:                cardano-wallet-launcher
-version:             2021.1.12
+version:             2021.1.28
 synopsis:            Utilities for a building commands launcher
 homepage:            https://github.com/input-output-hk/cardano-wallet
 author:              IOHK Engineering Team
diff --git a/lib/shelley/cardano-wallet.cabal b/lib/shelley/cardano-wallet.cabal
index 17e102d52c2..f4856ddb677 100644
--- a/lib/shelley/cardano-wallet.cabal
+++ b/lib/shelley/cardano-wallet.cabal
@@ -1,5 +1,5 @@
 name:                cardano-wallet
-version:             2021.1.12
+version:             2021.1.28
 synopsis:            Wallet backend protocol-specific bits implemented using Shelley nodes
 description:         Please see README.md
 homepage:            https://github.com/input-output-hk/cardano-wallet
diff --git a/lib/test-utils/cardano-wallet-test-utils.cabal b/lib/test-utils/cardano-wallet-test-utils.cabal
index b65a9fd9485..2c32f868fa0 100644
--- a/lib/test-utils/cardano-wallet-test-utils.cabal
+++ b/lib/test-utils/cardano-wallet-test-utils.cabal
@@ -1,5 +1,5 @@
 name:                cardano-wallet-test-utils
-version:             2021.1.12
+version:             2021.1.28
 synopsis:            Shared utilities for writing unit and property tests.
 description:         Shared utilities for writing unit and property tests.
 homepage:            https://github.com/input-output-hk/cardano-wallet
diff --git a/lib/text-class/text-class.cabal b/lib/text-class/text-class.cabal
index 8c09a27b32b..626d06e760a 100644
--- a/lib/text-class/text-class.cabal
+++ b/lib/text-class/text-class.cabal
@@ -1,5 +1,5 @@
 name:                text-class
-version:             2021.1.12
+version:             2021.1.28
 synopsis:            Extra helpers to convert data-types to and from Text
 homepage:            https://github.com/input-output-hk/cardano-wallet
 author:              IOHK Engineering Team
diff --git a/nix/.stack.nix/cardano-wallet-cli.nix b/nix/.stack.nix/cardano-wallet-cli.nix
index 8ec711d10aa..621a7a4642c 100644
--- a/nix/.stack.nix/cardano-wallet-cli.nix
+++ b/nix/.stack.nix/cardano-wallet-cli.nix
@@ -11,7 +11,7 @@
     flags = { release = false; };
     package = {
       specVersion = "1.10";
-      identifier = { name = "cardano-wallet-cli"; version = "2021.1.12"; };
+      identifier = { name = "cardano-wallet-cli"; version = "2021.1.28"; };
       license = "Apache-2.0";
       copyright = "2018-2020 IOHK";
       maintainer = "operations@iohk.io";
diff --git a/nix/.stack.nix/cardano-wallet-core-integration.nix b/nix/.stack.nix/cardano-wallet-core-integration.nix
index 5a41d284fd3..cf2ecff5144 100644
--- a/nix/.stack.nix/cardano-wallet-core-integration.nix
+++ b/nix/.stack.nix/cardano-wallet-core-integration.nix
@@ -13,7 +13,7 @@
       specVersion = "1.10";
       identifier = {
         name = "cardano-wallet-core-integration";
-        version = "2021.1.12";
+        version = "2021.1.28";
         };
       license = "Apache-2.0";
       copyright = "2018-2020 IOHK";
diff --git a/nix/.stack.nix/cardano-wallet-core.nix b/nix/.stack.nix/cardano-wallet-core.nix
index b25d81c3967..505fd8dd650 100644
--- a/nix/.stack.nix/cardano-wallet-core.nix
+++ b/nix/.stack.nix/cardano-wallet-core.nix
@@ -11,7 +11,7 @@
     flags = { release = false; };
     package = {
       specVersion = "1.10";
-      identifier = { name = "cardano-wallet-core"; version = "2021.1.12"; };
+      identifier = { name = "cardano-wallet-core"; version = "2021.1.28"; };
       license = "Apache-2.0";
       copyright = "2018-2020 IOHK";
       maintainer = "operations@iohk.io";
diff --git a/nix/.stack.nix/cardano-wallet-launcher.nix b/nix/.stack.nix/cardano-wallet-launcher.nix
index 1a2684d97b6..203947b4a36 100644
--- a/nix/.stack.nix/cardano-wallet-launcher.nix
+++ b/nix/.stack.nix/cardano-wallet-launcher.nix
@@ -11,7 +11,7 @@
     flags = { release = false; };
     package = {
       specVersion = "1.10";
-      identifier = { name = "cardano-wallet-launcher"; version = "2021.1.12"; };
+      identifier = { name = "cardano-wallet-launcher"; version = "2021.1.28"; };
       license = "Apache-2.0";
       copyright = "2018-2020 IOHK";
       maintainer = "operations@iohk.io";
diff --git a/nix/.stack.nix/cardano-wallet-test-utils.nix b/nix/.stack.nix/cardano-wallet-test-utils.nix
index e08093bf203..f293d340ef5 100644
--- a/nix/.stack.nix/cardano-wallet-test-utils.nix
+++ b/nix/.stack.nix/cardano-wallet-test-utils.nix
@@ -13,7 +13,7 @@
       specVersion = "1.10";
       identifier = {
         name = "cardano-wallet-test-utils";
-        version = "2021.1.12";
+        version = "2021.1.28";
         };
       license = "Apache-2.0";
       copyright = "2018-2020 IOHK";
diff --git a/nix/.stack.nix/cardano-wallet.nix b/nix/.stack.nix/cardano-wallet.nix
index fb232bb39be..cfe0030f843 100644
--- a/nix/.stack.nix/cardano-wallet.nix
+++ b/nix/.stack.nix/cardano-wallet.nix
@@ -11,7 +11,7 @@
     flags = { release = false; };
     package = {
       specVersion = "1.10";
-      identifier = { name = "cardano-wallet"; version = "2021.1.12"; };
+      identifier = { name = "cardano-wallet"; version = "2021.1.28"; };
       license = "Apache-2.0";
       copyright = "2020 IOHK";
       maintainer = "operations@iohk.io";
diff --git a/nix/.stack.nix/text-class.nix b/nix/.stack.nix/text-class.nix
index 18e35d12901..7c1a376801d 100644
--- a/nix/.stack.nix/text-class.nix
+++ b/nix/.stack.nix/text-class.nix
@@ -11,7 +11,7 @@
     flags = { release = false; };
     package = {
       specVersion = "1.10";
-      identifier = { name = "text-class"; version = "2021.1.12"; };
+      identifier = { name = "text-class"; version = "2021.1.28"; };
       license = "Apache-2.0";
       copyright = "2018-2020 IOHK";
       maintainer = "operations@iohk.io";
diff --git a/scripts/make_release.sh b/scripts/make_release.sh
index b745777b856..39e162a404c 100755
--- a/scripts/make_release.sh
+++ b/scripts/make_release.sh
@@ -18,10 +18,10 @@ set -euo pipefail
 ################################################################################
 # Release-specific parameters (Change when you bump the version)
 # Release tags must follow format vYYYY-MM-DD.
-OLD_GIT_TAG="v2020-12-21"
-GIT_TAG="v2021-01-12"
+OLD_GIT_TAG="v2021-01-12"
+GIT_TAG="v2021-01-28"
 
-CARDANO_NODE_TAG="1.24.2"
+CARDANO_NODE_TAG="1.25.1"
 
 ################################################################################
 # Tag munging functions
diff --git a/specifications/api/swagger.yaml b/specifications/api/swagger.yaml
index d7229291e82..f1c3d7d433e 100644
--- a/specifications/api/swagger.yaml
+++ b/specifications/api/swagger.yaml
@@ -1,7 +1,7 @@
 openapi: 3.0.0
 info:
   title: Cardano Wallet Backend API
-  version: 2021.1.12
+  version: 2021.1.28
   license:
     name: Apache-2.0
     url: https://raw.githubusercontent.com/input-output-hk/cardano-wallet/master/LICENSE