diff --git a/ElementX.xcodeproj/project.pbxproj b/ElementX.xcodeproj/project.pbxproj
index b58403f003..493e0b5cf7 100644
--- a/ElementX.xcodeproj/project.pbxproj
+++ b/ElementX.xcodeproj/project.pbxproj
@@ -7657,7 +7657,7 @@
 			repositoryURL = "https://github.com/element-hq/matrix-rust-components-swift";
 			requirement = {
 				kind = exactVersion;
-				version = 1.0.39;
+				version = 1.0.40;
 			};
 		};
 		701C7BEF8F70F7A83E852DCC /* XCRemoteSwiftPackageReference "GZIP" */ = {
diff --git a/ElementX.xcodeproj/project.xcworkspace/xcshareddata/swiftpm/Package.resolved b/ElementX.xcodeproj/project.xcworkspace/xcshareddata/swiftpm/Package.resolved
index fcf57cdd40..760bbaa7ef 100644
--- a/ElementX.xcodeproj/project.xcworkspace/xcshareddata/swiftpm/Package.resolved
+++ b/ElementX.xcodeproj/project.xcworkspace/xcshareddata/swiftpm/Package.resolved
@@ -149,8 +149,8 @@
       "kind" : "remoteSourceControl",
       "location" : "https://github.com/element-hq/matrix-rust-components-swift",
       "state" : {
-        "revision" : "cdb8f594bfccf0c867bfa5a194c6972fd32a5502",
-        "version" : "1.0.39"
+        "revision" : "5d9f1865a71badfe6d9f7c3232b6cf23b12f8add",
+        "version" : "1.0.40"
       }
     },
     {
diff --git a/project.yml b/project.yml
index 8ae66ecde9..f9549e3b5c 100644
--- a/project.yml
+++ b/project.yml
@@ -60,7 +60,7 @@ packages:
   # Element/Matrix dependencies
   MatrixRustSDK:
     url: https://github.com/element-hq/matrix-rust-components-swift
-    exactVersion: 1.0.39
+    exactVersion: 1.0.40
     # path: ../matrix-rust-sdk
   Compound:
     url: https://github.com/element-hq/compound-ios