diff --git a/Cargo.lock b/Cargo.lock
index 6c947e7d0..655ec76c6 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -325,9 +325,9 @@ checksum = "904dfeac50f3cdaba28fc6f57fdcddb75f49ed61346676a78c4ffe55877802fd"
 
 [[package]]
 name = "bech32"
-version = "0.7.2"
+version = "0.8.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "cdcf67bb7ba7797a081cd19009948ab533af7c355d5caf1d08c777582d351e9c"
+checksum = "6c7f7096bc256f5e5cb960f60dfc4f4ef979ca65abe7fb9d5a4f77150d3783d4"
 
 [[package]]
 name = "bindgen"
diff --git a/chain-core/Cargo.toml b/chain-core/Cargo.toml
index 95b904a10..e81aff0a2 100644
--- a/chain-core/Cargo.toml
+++ b/chain-core/Cargo.toml
@@ -24,7 +24,7 @@ blake3 = { version = "0.3.7", default-features = false }
 parity-scale-codec = { features = ["derive"], version = "1.3" }
 base64 = { version = "0.13", optional = true }
 static_assertions = { version = "1.1.0", default-features = false}
-bech32 = { version = "0.7.2", optional = true }
+bech32 = { version = "0.8.0", optional = true }
 aead = "0.3"
 thiserror = { version = "1.0", default-features = false }