diff --git a/CHANGELOG.md b/CHANGELOG.md
index 690b15c3..c711eb5d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,10 @@
 # Changelog
 
+## 7.2.0-beta.1 - 2022-08-23
+* [#1122](https://github.com/stripe/stripe-ruby/pull/1122) API Updates for beta branch
+  - Updated stable APIs to the latest version
+  - `Stripe-Version` beta headers are not pinned by-default and need to be manually specified, please refer to [beta SDKs README section](https://github.com/stripe/stripe-ruby/blob/master/README.md#beta-sdks) 
+
 ## 7.1.0 - 2022-08-19
 * [#1116](https://github.com/stripe/stripe-ruby/pull/1116) API Updates
   * Add support for new resource `CustomerCashBalanceTransaction`
diff --git a/VERSION b/VERSION
index 0d60536f..c3a98f61 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-7.1.0-beta.2
+7.2.0-beta.1
diff --git a/lib/stripe/version.rb b/lib/stripe/version.rb
index 25881026..c263f636 100644
--- a/lib/stripe/version.rb
+++ b/lib/stripe/version.rb
@@ -1,5 +1,5 @@
 # frozen_string_literal: true
 
 module Stripe
-  VERSION = "7.1.0-beta.2"
+  VERSION = "7.2.0-beta.1"
 end