diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index 4950cb7ef..cecdcc0a2 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.50.0
+current_version = 0.50.1
 commit = True
 tag = False
 
diff --git a/setup.py b/setup.py
index eca472066..b60db7e88 100644
--- a/setup.py
+++ b/setup.py
@@ -11,7 +11,7 @@
 from setuptools.command.build_py import build_py
 
 DESCRIPTION = "Raiden contracts library and utilities"
-VERSION = "0.50.0"
+VERSION = "0.50.1"
 
 
 def read_requirements(path: str) -> List[str]: