diff --git a/Cargo.lock b/Cargo.lock
index b1d05c194e..7247073211 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1589,9 +1589,9 @@ dependencies = [
 
 [[package]]
 name = "bounded-collections"
-version = "0.1.9"
+version = "0.2.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ca548b6163b872067dc5eb82fd130c56881435e30367d2073594a3d9744120dd"
+checksum = "d32385ecb91a31bddaf908e8dcf4a15aef1bcd3913cc03ebfad02ff6d568abc1"
 dependencies = [
  "log",
  "parity-scale-codec",
diff --git a/cumulus/pallets/xcmp-queue/Cargo.toml b/cumulus/pallets/xcmp-queue/Cargo.toml
index 601bc0be7b..8dde44ca0f 100644
--- a/cumulus/pallets/xcmp-queue/Cargo.toml
+++ b/cumulus/pallets/xcmp-queue/Cargo.toml
@@ -34,7 +34,7 @@ cumulus-primitives-core = { path = "../../primitives/core", default-features = f
 
 # Optional import for benchmarking
 frame-benchmarking = { path = "../../../substrate/frame/benchmarking", default-features = false, optional = true }
-bounded-collections = { version = "0.1.4", default-features = false }
+bounded-collections = { version = "0.2.0", default-features = false }
 
 # Bridges
 bp-xcm-bridge-hub-router = { path = "../../../bridges/primitives/xcm-bridge-hub-router", default-features = false, optional = true }
diff --git a/polkadot/parachain/Cargo.toml b/polkadot/parachain/Cargo.toml
index d10f2311be..e5ff1051d2 100644
--- a/polkadot/parachain/Cargo.toml
+++ b/polkadot/parachain/Cargo.toml
@@ -21,7 +21,7 @@ sp-core = { path = "../../substrate/primitives/core", default-features = false,
 sp-weights = { path = "../../substrate/primitives/weights", default-features = false }
 polkadot-core-primitives = { path = "../core-primitives", default-features = false }
 derive_more = "0.99.11"
-bounded-collections = { version = "0.1.8", default-features = false, features = ["serde"] }
+bounded-collections = { version = "0.2.0", default-features = false, features = ["serde"] }
 
 # all optional crates.
 serde = { version = "1.0.195", default-features = false, features = ["alloc", "derive"] }
diff --git a/polkadot/xcm/Cargo.toml b/polkadot/xcm/Cargo.toml
index 7275351e6d..41b79051bb 100644
--- a/polkadot/xcm/Cargo.toml
+++ b/polkadot/xcm/Cargo.toml
@@ -11,7 +11,7 @@ workspace = true
 
 [dependencies]
 array-bytes = "6.1"
-bounded-collections = { version = "0.1.9", default-features = false, features = ["serde"] }
+bounded-collections = { version = "0.2.0", default-features = false, features = ["serde"] }
 derivative = { version = "2.2.0", default-features = false, features = ["use_core"] }
 impl-trait-for-tuples = "0.2.2"
 log = { version = "0.4.17", default-features = false }
diff --git a/polkadot/xcm/pallet-xcm/Cargo.toml b/polkadot/xcm/pallet-xcm/Cargo.toml
index 4cefd877b2..dc9b3c0e20 100644
--- a/polkadot/xcm/pallet-xcm/Cargo.toml
+++ b/polkadot/xcm/pallet-xcm/Cargo.toml
@@ -10,7 +10,7 @@ license.workspace = true
 workspace = true
 
 [dependencies]
-bounded-collections = { version = "0.1.8", default-features = false }
+bounded-collections = { version = "0.2.0", default-features = false }
 codec = { package = "parity-scale-codec", version = "3.6.1", default-features = false, features = ["derive"] }
 scale-info = { version = "2.10.0", default-features = false, features = ["derive"] }
 serde = { version = "1.0.195", optional = true, features = ["derive"] }
diff --git a/substrate/primitives/core/Cargo.toml b/substrate/primitives/core/Cargo.toml
index fd531e00a6..f5914049f4 100644
--- a/substrate/primitives/core/Cargo.toml
+++ b/substrate/primitives/core/Cargo.toml
@@ -20,7 +20,7 @@ codec = { package = "parity-scale-codec", version = "3.6.1", default-features =
 scale-info = { version = "2.5.0", default-features = false, features = ["derive"] }
 log = { version = "0.4.17", default-features = false }
 serde = { version = "1.0.195", optional = true, default-features = false, features = ["alloc", "derive"] }
-bounded-collections = { version = "0.1.8", default-features = false }
+bounded-collections = { version = "0.2.0", default-features = false }
 primitive-types = { version = "0.12.0", default-features = false, features = ["codec", "scale-info"] }
 impl-serde = { version = "0.4.0", default-features = false, optional = true }
 hash-db = { version = "0.16.0", default-features = false }
diff --git a/substrate/primitives/weights/Cargo.toml b/substrate/primitives/weights/Cargo.toml
index 82b92e130a..3a57720b96 100644
--- a/substrate/primitives/weights/Cargo.toml
+++ b/substrate/primitives/weights/Cargo.toml
@@ -16,7 +16,7 @@ workspace = true
 targets = ["x86_64-unknown-linux-gnu"]
 
 [dependencies]
-bounded-collections = { version = "0.1.4", default-features = false }
+bounded-collections = { version = "0.2.0", default-features = false }
 codec = { package = "parity-scale-codec", version = "3.6.1", default-features = false, features = ["derive"] }
 scale-info = { version = "2.10.0", default-features = false, features = ["derive"] }
 serde = { version = "1.0.195", default-features = false, optional = true, features = ["alloc", "derive"] }