diff --git a/HISTORY.md b/HISTORY.md
index bddea864e6..84a62d10bd 100644
--- a/HISTORY.md
+++ b/HISTORY.md
@@ -1,5 +1,10 @@
 # Release History - open AEA
 
+## 1.48.0 (2024-02-21)
+
+AEA:
+- Adds support for scaffolding and managing [custom packages](https://github.com/valory-xyz/open-aea/pull/717#pullrequestreview-1887581886)
+
 ## 1.47.0 (2024-02-13)
 
 Plugins:
diff --git a/SECURITY.md b/SECURITY.md
index cf71f15c64..473b60fa13 100644
--- a/SECURITY.md
+++ b/SECURITY.md
@@ -8,8 +8,8 @@ The following table shows which versions of `open-aea` are currently being suppo
 
 | Version   | Supported          |
 | --------- | ------------------ |
-| `1.47.x`   | :white_check_mark: |
-| `< 1.47.0` | :x:                |
+| `1.48.x`   | :white_check_mark: |
+| `< 1.48.0` | :x:                |
 
 ## Reporting a Vulnerability
 
diff --git a/aea/__version__.py b/aea/__version__.py
index 8ef8c137ab..acab38f9f1 100644
--- a/aea/__version__.py
+++ b/aea/__version__.py
@@ -23,7 +23,7 @@
 __title__ = "open-aea"
 __description__ = "Open Autonomous Economic Agent framework (without vendor lock-in)"
 __url__ = "https://github.com/valory-xyz/open-aea.git"
-__version__ = "1.47.0"
+__version__ = "1.48.0"
 __author__ = "Valory AG"
 __license__ = "Apache-2.0"
 __copyright__ = "2021 Valory AG, 2019 Fetch.AI Limited"
diff --git a/deploy-image/Dockerfile b/deploy-image/Dockerfile
index d8f6e8656a..71f2913486 100644
--- a/deploy-image/Dockerfile
+++ b/deploy-image/Dockerfile
@@ -16,7 +16,7 @@ RUN apk add --no-cache go
 
 # aea installation
 RUN pip install --upgrade pip
-RUN pip install --upgrade --force-reinstall open-aea[all]==1.47.0 "open-aea-cli-ipfs<2.0.0,>=1.47.0"
+RUN pip install --upgrade --force-reinstall open-aea[all]==1.48.0 "open-aea-cli-ipfs<2.0.0,>=1.48.0"
 
 # directories and aea cli config
 WORKDIR /home/agents
diff --git a/deploy-image/README.md b/deploy-image/README.md
index e5ead00941..f4ade13215 100644
--- a/deploy-image/README.md
+++ b/deploy-image/README.md
@@ -11,7 +11,7 @@ The example uses the `fetchai/my_first_aea` project. You will likely want to mod
 Install subversion, then download the example directory to your local working directory
 
 ``` bash
-svn checkout https://github.com/valory-xyz/open-aea/tags/v1.47.0/packages packages
+svn checkout https://github.com/valory-xyz/open-aea/tags/v1.48.0/packages packages
 ```
 
 ### Modify scripts
diff --git a/develop-image/docker-env.sh b/develop-image/docker-env.sh
index 4bb5351573..c3ed3e294d 100755
--- a/develop-image/docker-env.sh
+++ b/develop-image/docker-env.sh
@@ -1,7 +1,7 @@
 #!/bin/bash
 
 # Swap the following lines if you want to work with 'latest'
-DOCKER_IMAGE_TAG=valory/open-aea-develop:1.47.0
+DOCKER_IMAGE_TAG=valory/open-aea-develop:1.48.0
 # DOCKER_IMAGE_TAG=valory/open-aea-develop:latest
 
 DOCKER_BUILD_CONTEXT_DIR=..
diff --git a/docs/upgrading.md b/docs/upgrading.md
index 5ee1688eb7..3d2d86421f 100644
--- a/docs/upgrading.md
+++ b/docs/upgrading.md
@@ -9,6 +9,10 @@ Below we describe the additional manual steps required to upgrade between differ
 
 ### Upgrade guide
 
+## `v1.47.0` to `v1.48.0`
+
+- No backwards incompatible changes
+
 ## `v1.46.0` to `v1.47.0`
 
 The `send_signed_transaction` method implementation is been updated to follow the ledger plugin pattern, which means it will return transaction digest not the transaction receipt. To retrieve the transaction receipt use `get_transaction_receipt` method.
diff --git a/examples/tac_deploy/Dockerfile b/examples/tac_deploy/Dockerfile
index 9828bc8396..57b59e4fd5 100644
--- a/examples/tac_deploy/Dockerfile
+++ b/examples/tac_deploy/Dockerfile
@@ -19,7 +19,7 @@ RUN apk add --no-cache go
 
 # aea installation
 RUN python -m pip install --upgrade pip
-RUN pip install --upgrade --force-reinstall open-aea[all]==1.47.0
+RUN pip install --upgrade --force-reinstall open-aea[all]==1.48.0
 
 # directories and aea cli config
 COPY /.aea /home/.aea
diff --git a/plugins/aea-cli-benchmark/setup.py b/plugins/aea-cli-benchmark/setup.py
index 8522b21dcf..f6f274fa56 100755
--- a/plugins/aea-cli-benchmark/setup.py
+++ b/plugins/aea-cli-benchmark/setup.py
@@ -26,7 +26,7 @@
 
 setup(
     name="open-aea-cli-benchmark",
-    version="1.47.0",
+    version="1.48.0",
     author="Valory AG",
     license="Apache-2.0",
     description="CLI extension for AEA framework benchmarking.",
diff --git a/plugins/aea-cli-ipfs/setup.py b/plugins/aea-cli-ipfs/setup.py
index e2ce785966..fd63cdb430 100755
--- a/plugins/aea-cli-ipfs/setup.py
+++ b/plugins/aea-cli-ipfs/setup.py
@@ -28,7 +28,7 @@
 
 setup(
     name="open-aea-cli-ipfs",
-    version="1.47.0",
+    version="1.48.0",
     author="Valory AG",
     license="Apache-2.0",
     description="CLI extension for open AEA framework wrapping IPFS functionality.",
diff --git a/plugins/aea-ledger-cosmos/setup.py b/plugins/aea-ledger-cosmos/setup.py
index a91f7ee156..7e4ac449dc 100644
--- a/plugins/aea-ledger-cosmos/setup.py
+++ b/plugins/aea-ledger-cosmos/setup.py
@@ -26,7 +26,7 @@
 
 setup(
     name="open-aea-ledger-cosmos",
-    version="1.47.0",
+    version="1.48.0",
     author="Valory AG",
     license="Apache-2.0",
     description="Python package wrapping the public and private key cryptography and ledger api of Cosmos.",
diff --git a/plugins/aea-ledger-ethereum-flashbots/setup.py b/plugins/aea-ledger-ethereum-flashbots/setup.py
index 832d430e1b..6c844881f7 100644
--- a/plugins/aea-ledger-ethereum-flashbots/setup.py
+++ b/plugins/aea-ledger-ethereum-flashbots/setup.py
@@ -25,7 +25,7 @@
 
 setup(
     name="open-aea-ledger-ethereum-flashbots",
-    version="1.47.0",
+    version="1.48.0",
     author="Valory AG",
     license="Apache-2.0",
     description="Python package extending the default open-aea ethereum ledger plugin to add support for flashbots.",
@@ -41,7 +41,7 @@
     },
     python_requires=">=3.9,<4.0",
     install_requires=[
-        "open-aea-ledger-ethereum~=1.47.0",
+        "open-aea-ledger-ethereum~=1.48.0",
         "open-aea-flashbots==1.4.0",
     ],
     tests_require=["pytest"],
diff --git a/plugins/aea-ledger-ethereum-hwi/setup.py b/plugins/aea-ledger-ethereum-hwi/setup.py
index aa54320c87..e75187ddba 100644
--- a/plugins/aea-ledger-ethereum-hwi/setup.py
+++ b/plugins/aea-ledger-ethereum-hwi/setup.py
@@ -25,7 +25,7 @@
 
 setup(
     name="open-aea-ledger-ethereum-hwi",
-    version="1.47.0",
+    version="1.48.0",
     author="Valory AG",
     license="Apache-2.0",
     description="Python package wrapping the public and private key cryptography and support for hardware wallet interactions.",
@@ -42,7 +42,7 @@
         "web3>=6.0.0,<7",
         "ipfshttpclient==0.8.0a2",
         "eth-account>=0.8.0,<0.9.0",
-        "open-aea-ledger-ethereum~=1.47.0",
+        "open-aea-ledger-ethereum~=1.48.0",
         "ledgerwallet==0.1.3",
         "protobuf<4.25.0,>=4.21.6",
         "construct<=2.10.61",
diff --git a/plugins/aea-ledger-ethereum/setup.py b/plugins/aea-ledger-ethereum/setup.py
index 2805d62548..6dafce8ee2 100644
--- a/plugins/aea-ledger-ethereum/setup.py
+++ b/plugins/aea-ledger-ethereum/setup.py
@@ -26,7 +26,7 @@
 
 setup(
     name="open-aea-ledger-ethereum",
-    version="1.47.0",
+    version="1.48.0",
     author="Valory AG",
     license="Apache-2.0",
     description="Python package wrapping the public and private key cryptography and ledger api of Ethereum.",
diff --git a/plugins/aea-ledger-fetchai/setup.py b/plugins/aea-ledger-fetchai/setup.py
index 2f0bafa43f..ebefd66d73 100644
--- a/plugins/aea-ledger-fetchai/setup.py
+++ b/plugins/aea-ledger-fetchai/setup.py
@@ -31,7 +31,7 @@
 
 setup(
     name="open-aea-ledger-fetchai",
-    version="1.47.0",
+    version="1.48.0",
     author="Valory AG",
     license="Apache-2.0",
     description="Python package wrapping the public and private key cryptography and ledger API of Fetch.AI.",
@@ -44,7 +44,7 @@
             "test_tools/data/*",
         ]
     },
-    install_requires=["open-aea-ledger-cosmos~=1.47.0"],
+    install_requires=["open-aea-ledger-cosmos~=1.48.0"],
     tests_require=["pytest"],
     entry_points={
         "aea.cryptos": ["fetchai = aea_ledger_fetchai:FetchAICrypto"],
diff --git a/plugins/aea-ledger-solana/setup.py b/plugins/aea-ledger-solana/setup.py
index 3fe1cf1ca9..4dd8195cfe 100644
--- a/plugins/aea-ledger-solana/setup.py
+++ b/plugins/aea-ledger-solana/setup.py
@@ -25,7 +25,7 @@
 
 setup(
     name="open-aea-ledger-solana",
-    version="1.47.0",
+    version="1.48.0",
     author="dassy23",
     license="Apache-2.0",
     description="Python package wrapping the public and private key cryptography and ledger api of solana.",
diff --git a/scripts/install.ps1 b/scripts/install.ps1
index 219c17ebe8..7f73f92b8b 100644
--- a/scripts/install.ps1
+++ b/scripts/install.ps1
@@ -34,7 +34,7 @@ function instal_choco_golang_gcc {
 }
 function install_aea {
 	echo "Install aea"
-    $output=pip install open-aea[all]==1.47.0 --force --no-cache-dir 2>&1 |out-string;
+    $output=pip install open-aea[all]==1.48.0 --force --no-cache-dir 2>&1 |out-string;
     if ($LastExitCode -ne 0) {
         echo $output
         echo "AEA install failed!"
diff --git a/scripts/install.sh b/scripts/install.sh
index 3290759ae2..d2a509ed19 100755
--- a/scripts/install.sh
+++ b/scripts/install.sh
@@ -42,7 +42,7 @@ function is_python_version_ok() {
 
 function install_aea (){
 	echo "Install AEA"
-	output=$(pip3 install --user open-aea[all]==1.47.0 --force --no-cache-dir)
+	output=$(pip3 install --user open-aea[all]==1.48.0 --force --no-cache-dir)
 	if [[  $? -ne 0 ]];
 	then
 		echo "$output"
diff --git a/skaffold.yaml b/skaffold.yaml
index 3984d577f3..610b98cc39 100644
--- a/skaffold.yaml
+++ b/skaffold.yaml
@@ -5,7 +5,7 @@ metadata:
 build:
   tagPolicy:
     envTemplate:
-      template: "1.47.0"
+      template: "1.48.0"
   artifacts:
   - image: valory/open-aea-develop
     docker:
@@ -24,7 +24,7 @@ profiles:
     build:
       tagPolicy:
         envTemplate:
-          template: "1.47.0"
+          template: "1.48.0"
       artifacts:
       - image: valory/open-aea-docs
         docker:
diff --git a/user-image/Dockerfile b/user-image/Dockerfile
index 27ed5eec14..babd67d054 100644
--- a/user-image/Dockerfile
+++ b/user-image/Dockerfile
@@ -7,7 +7,7 @@ ENV LANG C.UTF-8
 RUN apt update && apt install -y python3.11-dev python3-pip -y && apt autoremove && apt autoclean
 
 RUN pip3 install --upgrade pip
-RUN pip3 install "open-aea[all]==1.47.0" open-aea-cli-ipfs==1.47.0
+RUN pip3 install "open-aea[all]==1.48.0" open-aea-cli-ipfs==1.48.0
 
 COPY user-image/openssl.cnf /etc/ssl
 
diff --git a/user-image/docker-env.sh b/user-image/docker-env.sh
index aee3924e57..f9ccab9324 100644
--- a/user-image/docker-env.sh
+++ b/user-image/docker-env.sh
@@ -1,7 +1,7 @@
 #!/bin/bash
 
 # Swap the following lines if you want to work with 'latest'
-DOCKER_IMAGE_TAG=valory/open-aea-user:1.47.0
+DOCKER_IMAGE_TAG=valory/open-aea-user:1.48.0
 # DOCKER_IMAGE_TAG=valory/open-aea-user:latest
 
 DOCKER_BUILD_CONTEXT_DIR=..