diff --git a/mmgen/globalvars.py b/mmgen/globalvars.py
index a1a17868..506108e2 100755
--- a/mmgen/globalvars.py
+++ b/mmgen/globalvars.py
@@ -52,7 +52,7 @@ prog_name = os.path.basename(sys.argv[0])
 author    = 'Philemon'
 email     = '<mmgen-py@yandex.com>'
 Cdates    = '2013-2016'
-version   = '0.8.6'
+version   = '0.8.7rc1'
 
 required_opts = [
 	'quiet','verbose','debug','outdir','echo_passphrase','passwd_file',
diff --git a/setup.py b/setup.py
index 489404a4..baa235dd 100755
--- a/setup.py
+++ b/setup.py
@@ -45,7 +45,7 @@ module1 = Extension(
 setup(
 		name         = 'mmgen',
 		description  = 'A complete Bitcoin offline/online wallet solution for the command line',
-		version      = '0.8.6',
+		version      = '0.8.7rc1',
 		author       = 'Philemon',
 		author_email = 'mmgen-py@yandex.com',
 		url          = 'https://github.com/mmgen/mmgen',