diff --git a/lib/version.py b/lib/version.py
index 1f93b759..02b04233 100644
--- a/lib/version.py
+++ b/lib/version.py
@@ -1,4 +1,4 @@
-ELECTRUM_VERSION = "1.6.2"  # version of the client package
+ELECTRUM_VERSION = "1.7"    # version of the client package
 PROTOCOL_VERSION = '0.6'    # protocol version requested
 SEED_VERSION     = 4        # bump this every time the seed generation is modified
 TRANSLATION_ID   = 3958     # version of the wiki page