diff --git a/.bumpversion_client.cfg b/.bumpversion_client.cfg
index a6da9712c1..b685952177 100644
--- a/.bumpversion_client.cfg
+++ b/.bumpversion_client.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.5.0
+current_version = 0.5.1
 commit = True
 tag = False
 
diff --git a/docs/conf.py b/docs/conf.py
index 89b8f32f2c..b67467aabf 100644
--- a/docs/conf.py
+++ b/docs/conf.py
@@ -98,7 +98,7 @@ def check_if_nightly(version):
 project = 'Raiden Network'
 author = 'Raiden Project'
 
-version_string = '0.5.0'
+version_string = '0.5.1'
 # The version info for the project you're documenting, acts as replacement for
 # |version| and |release|, also used in various other places throughout the
 # built documents.
diff --git a/setup.py b/setup.py
index 34d6e47b2a..d2ef1139e4 100755
--- a/setup.py
+++ b/setup.py
@@ -95,7 +95,7 @@ def run(self):
 
 test_requirements = []
 
-version = '0.5.0'  # Do not edit: this is maintained by bumpversion (see .bumpversion_client.cfg)
+version = '0.5.1'  # Do not edit: this is maintained by bumpversion (see .bumpversion_client.cfg)
 
 setup(
     name='raiden',