diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index 20a6e79b0..315490d36 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.40.0rc0
+current_version = 0.40.0
 commit = True
 tag = False
 
diff --git a/setup.py b/setup.py
index 0a688f41a..40d544c3e 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 = "0.40.0rc0"
+VERSION = "0.40.0"
 
 
 def read_requirements(path: str) -> List[str]: