diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index 7dce792..8ac4f9a 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 2020.11.2
+current_version = 2021.02.0rc1
 commit = True
 tag = True
 tag_name = {new_version}
@@ -26,4 +26,3 @@ values =
 	10
 	11
 	12
-
diff --git a/README.md b/README.md
index fd2c08e..8de03e3 100644
--- a/README.md
+++ b/README.md
@@ -151,11 +151,11 @@ can identify this, if there is an `rcX` at the end of the version (E.g. `2019.03
 [latest full release](https://github.com/raiden-network/raiden-service-bundle/releases/latest). If the version is
 different from what you see below, you should stick to the "full release" and replace the version accordingly.
 
-1. Clone the [current release version of this repository](https://github.com/raiden-network/raiden-service-bundle/tree/2020.11.2)
+1. Clone the [current release version of this repository](https://github.com/raiden-network/raiden-service-bundle/tree/2021.02.0rc1)
    to a suitable location on the server:
 
    ```shell
-   git clone -b 2020.11.2 https://github.com/raiden-network/raiden-service-bundle.git
+   git clone -b 2021.02.0rc1 https://github.com/raiden-network/raiden-service-bundle.git
    ```
 1. Copy `.env.template` to `.env` and modify the values to fit your setup. Please read [Configuring the `.env` file](#configuring-the-env-file) for detailed information.
    - We would appreciate it if you allow us access to the monitoring interfaces
diff --git a/docker-compose.yml b/docker-compose.yml
index bb94d99..90c7d8d 100644
--- a/docker-compose.yml
+++ b/docker-compose.yml
@@ -5,15 +5,15 @@ x-versions:
   services: &IMAGE_RAIDEN_SERVICES_VERSION
     image: raidennetwork/raiden-services:v0.14.0
   db: &IMAGE_DB_VERSION
-    image: raidennetwork/raiden-service-bundle:2020.11.2-db
+    image: raidennetwork/raiden-service-bundle:2021.02.0rc1-db
   synapse: &IMAGE_SYNAPSE_VERSION
-    image: raidennetwork/raiden-service-bundle:2020.11.2-synapse
+    image: raidennetwork/raiden-service-bundle:2021.02.0rc1-synapse
   well-known-server: &IMAGE_WELL_KNOWN_VERSION
-    image: raidennetwork/raiden-service-bundle:2020.11.2-well_known_server
+    image: raidennetwork/raiden-service-bundle:2021.02.0rc1-well_known_server
   room_ensurer: &IMAGE_ROOM_ENSURER_VERSION
-    image: raidennetwork/raiden-service-bundle:2020.11.2-room_ensurer
+    image: raidennetwork/raiden-service-bundle:2021.02.0rc1-room_ensurer
   purger: &IMAGE_PURGER_VERSION
-    image: raidennetwork/raiden-service-bundle:2020.11.2-purger
+    image: raidennetwork/raiden-service-bundle:2021.02.0rc1-purger
   redis: &IMAGE_REDIS_VERSION
     image: redis:6.0
   metrics_db: &IMAGE_METRICS_DB_VERSION
@@ -25,7 +25,7 @@ x-versions:
   node_exporter: &IMAGE_NODE_EXPORTER
     image: quay.io/prometheus/node-exporter:v1.0.1
   compress_state: &IMAGE_COMPRESS_STATE
-    image: raidennetwork/raiden-service-bundle:2021.02.0-rust_synapse_compress_state
+    image: raidennetwork/raiden-service-bundle:2021.02.0rc1-rust_synapse_compress_state
 # /versions
 
 x-defaults: &services-defaults