diff --git a/package.json b/package.json
index 2445e3c973..47fa616d0b 100644
--- a/package.json
+++ b/package.json
@@ -80,7 +80,7 @@
     "katex": "^0.12.0",
     "linkifyjs": "^2.1.9",
     "lodash": "^4.17.20",
-    "matrix-js-sdk": "12.2.0",
+    "matrix-js-sdk": "12.3.0-rc.1",
     "matrix-widget-api": "^0.1.0-beta.15",
     "minimist": "^1.2.5",
     "opus-recorder": "^8.0.3",
diff --git a/yarn.lock b/yarn.lock
index a780d1ffa0..5e1699a696 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -5686,10 +5686,10 @@ mathml-tag-names@^2.1.3:
   resolved "https://registry.yarnpkg.com/mathml-tag-names/-/mathml-tag-names-2.1.3.tgz#4ddadd67308e780cf16a47685878ee27b736a0a3"
   integrity sha512-APMBEanjybaPzUrfqU0IMU5I0AswKMH7k8OTLs0vvV4KZpExkTkY87nR/zpbuTPj+gARop7aGUbl11pnDfW6xg==
 
-matrix-js-sdk@12.2.0:
-  version "12.2.0"
-  resolved "https://registry.yarnpkg.com/matrix-js-sdk/-/matrix-js-sdk-12.2.0.tgz#e1dc7ddac054289cb24ee3d11dba8a5ba5ddecf5"
-  integrity sha512-foSs3uKRc6uvFNhgY35eErBvLWVDd5RNIxxsdFKlmU3B+70YUf3BP3petyBNW34ORyOqNdX36IiApfLo3npNEw==
+matrix-js-sdk@12.3.0-rc.1:
+  version "12.3.0-rc.1"
+  resolved "https://registry.yarnpkg.com/matrix-js-sdk/-/matrix-js-sdk-12.3.0-rc.1.tgz#9e192f7bffb08d68deb1298e46082eda3273c6ee"
+  integrity sha512-sqvc5+y289qnoqFvq32XDiWFu3NPKOmmTTV6fB+OdtkP3VvU8In+6sXYWqY3Xz7ZD4nY+At6AijQmDPn2seJwQ==
   dependencies:
     "@babel/runtime" "^7.12.5"
     another-json "^0.2.0"