diff --git a/WORKSPACE.bazel b/WORKSPACE.bazel
index af1a4a161e3..9ff3af23086 100644
--- a/WORKSPACE.bazel
+++ b/WORKSPACE.bazel
@@ -19,6 +19,7 @@ canisters(
         "ledger": "ledger-canister_notify-method.wasm.gz",
         "ledger_v1": "ledger-canister_notify-method.wasm.gz",
         "ledger_v2": "ledger-canister_notify-method.wasm.gz",
+        "ledger_v3": "ledger-canister_notify-method.wasm.gz",
         "archive": "ledger-archive-node-canister.wasm.gz",
         "index": "ic-icp-index-canister.wasm.gz",
         "root": "root-canister.wasm.gz",
@@ -55,6 +56,7 @@ canisters(
         "ledger": "mainnet_icp_ledger_canister",
         "ledger_v1": "mainnet_icp_ledger_canister-v1",
         "ledger_v2": "mainnet_icp_ledger_canister-v2",
+        "ledger_v3": "mainnet_icp_ledger_canister-v3",
         "archive": "mainnet_icp_ledger-archive-node-canister",
         "index": "mainnet_icp_index_canister",
         "root": "mainnet_nns_root-canister",
diff --git a/mainnet-canister-revisions.json b/mainnet-canister-revisions.json
index 97762a62a50..99030805ea8 100644
--- a/mainnet-canister-revisions.json
+++ b/mainnet-canister-revisions.json
@@ -68,16 +68,16 @@
     "sha256": "fd25a4e2e283b498c3be1aaf63cc9b2726264d78a12b12f43ad453ceeb575e7c"
   },
   "governance": {
-    "rev": "03393bc817da78cdc27190eaa388b8f6f8990365",
-    "sha256": "542cb59d9ba2b4ba43b0690a839cf1d51dd49582a53e55fbf535eb08a23a14c4"
+    "rev": "c5e098e8cc8e62249e6d7f4ed09e6c2ed87fc800",
+    "sha256": "bd821399f16d4bdac8cef06b81d8ac72cf8e36a7ab766efccb2a0925be6f388f"
   },
   "index": {
     "rev": "7c6309cb5bec7ab28ed657ac7672af08a59fc1ba",
     "sha256": "7b884231f230f5fc66ad18e0baaec0c14921bd5da742db5dbaf51f824b8dfc63"
   },
   "ledger": {
-    "rev": "7c6309cb5bec7ab28ed657ac7672af08a59fc1ba",
-    "sha256": "a9ed1cb9dda555e0fc1038825eb7b3a6b366f17aa4b88575184c7537e864e551"
+    "rev": "6bc1943fc5bcff846959025c5f3f2f7f510489cf",
+    "sha256": "6dae518b33ef5814462ff921e81d13acd5e7a8f4e383ab849d87a33b0a608b08"
   },
   "ledger_v1": {
     "rev": "6dcfafb491092704d374317d9a72a7ad2475d7c9",
@@ -87,6 +87,10 @@
     "rev": "dac2f36f96d7549d82fa8e3c714979255ce57afd",
     "sha256": "50c05fd687883fe788c0bb91996de358d8f856ba56088c6ff47767ea853001d7"
   },
+  "ledger_v3": {
+    "rev": "7c6309cb5bec7ab28ed657ac7672af08a59fc1ba",
+    "sha256": "a9ed1cb9dda555e0fc1038825eb7b3a6b366f17aa4b88575184c7537e864e551"
+  },
   "lifeline": {
     "rev": "b5192581ccd35b67fe5a1f795ead9cbcd25956d6",
     "sha256": "8c8eb285de53ca5609abd7dc41ba3ec8eeb67708b81469311fd670e6738d7d0a"
@@ -96,20 +100,20 @@
     "sha256": "f0fb8fa545b2cc68f030b040e1182a8d004c4d4f4bb4341c9f1b432642c85bef"
   },
   "root": {
-    "rev": "b5192581ccd35b67fe5a1f795ead9cbcd25956d6",
-    "sha256": "d3c702648ca4fb232f349bad7533c400c474a528abf62c05d4b100b4cdb91ce2"
+    "rev": "c5e098e8cc8e62249e6d7f4ed09e6c2ed87fc800",
+    "sha256": "304af3d8d330397d53eed7e8580810fb3ab303930bdf6fd3969c9109dd11b80e"
   },
   "sns-wasm": {
-    "rev": "25c1bb0227d9970f5673b908817d7c4962b29911",
-    "sha256": "68f9fb37341d14a35735e10a0eb2471721b4cd75b6552ac11124aac559b05736"
+    "rev": "c5e098e8cc8e62249e6d7f4ed09e6c2ed87fc800",
+    "sha256": "6308fdd2d8bafb6a54ae995f0ff07118976dd75f6e2775fdf50349084a59b4b7"
   },
   "sns_archive": {
     "rev": "c741e349451edf0c9792149ad439bb32a0161371",
     "sha256": "2b0970a84976bc2eb9591b68d44501566937994fa5594972f8aac9c8b058672f"
   },
   "sns_governance": {
-    "rev": "03393bc817da78cdc27190eaa388b8f6f8990365",
-    "sha256": "5c43913c77f922a21f54b3422abf7cb43d369677e7668b7c8f91a429acd5c864"
+    "rev": "c5e098e8cc8e62249e6d7f4ed09e6c2ed87fc800",
+    "sha256": "487940ab827c929471dbd128fcb1c7d5dfe2f3f56d9e489e0f3b68122b56a94f"
   },
   "sns_index": {
     "rev": "c741e349451edf0c9792149ad439bb32a0161371",
@@ -124,11 +128,11 @@
     "sha256": "3d808fa63a3d8ebd4510c0400aa078e99a31afaa0515f0b68778f929ce4b2a46"
   },
   "sns_root": {
-    "rev": "a5878586e47536d4cd47f0aadb66b73df8131d2b",
-    "sha256": "dc243135057d13c48f71d2f0a4b8f5fc43ed525d579d97dde23e052dca15bf96"
+    "rev": "c5e098e8cc8e62249e6d7f4ed09e6c2ed87fc800",
+    "sha256": "9c129437f868e54a2dc3c72438cd7977925d089f9982c35d0370eaa71d5e3a6d"
   },
   "swap": {
     "rev": "a5878586e47536d4cd47f0aadb66b73df8131d2b",
     "sha256": "45408ed654561dfb17c84b86948dda9498aa0ba8ee669ae774e5faca830c4c24"
   }
-}
\ No newline at end of file
+}
diff --git a/rs/ledger_suite/icp/ledger/BUILD.bazel b/rs/ledger_suite/icp/ledger/BUILD.bazel
index a813c56783c..082b02f1bce 100644
--- a/rs/ledger_suite/icp/ledger/BUILD.bazel
+++ b/rs/ledger_suite/icp/ledger/BUILD.bazel
@@ -120,6 +120,7 @@ rust_ic_test(
         ":ledger-canister-wasm-next-version",
         "@mainnet_icp_ledger_canister-v1//file",
         "@mainnet_icp_ledger_canister-v2//file",
+        "@mainnet_icp_ledger_canister-v3//file",
         "@mainnet_icp_ledger_canister//file",
     ],
     env = {
@@ -128,6 +129,7 @@ rust_ic_test(
         "ICP_LEDGER_DEPLOYED_VERSION_WASM_PATH": "$(rootpath @mainnet_icp_ledger_canister//file)",
         "ICP_LEDGER_DEPLOYED_VERSION_V1_WASM_PATH": "$(rootpath @mainnet_icp_ledger_canister-v1//file)",
         "ICP_LEDGER_DEPLOYED_VERSION_V2_WASM_PATH": "$(rootpath @mainnet_icp_ledger_canister-v2//file)",
+        "ICP_LEDGER_DEPLOYED_VERSION_V3_WASM_PATH": "$(rootpath @mainnet_icp_ledger_canister-v3//file)",
         "LEDGER_CANISTER_WASM_PATH": "$(rootpath :ledger-canister-wasm)",
         "LEDGER_CANISTER_ALLOWANCE_GETTER_WASM_PATH": "$(rootpath :ledger-canister-wasm-allowance-getter)",
         "LEDGER_CANISTER_NEXT_VERSION_WASM_PATH": "$(rootpath :ledger-canister-wasm-next-version)",
diff --git a/rs/ledger_suite/icp/ledger/tests/tests.rs b/rs/ledger_suite/icp/ledger/tests/tests.rs
index 5880d38248d..cd5e8253f67 100644
--- a/rs/ledger_suite/icp/ledger/tests/tests.rs
+++ b/rs/ledger_suite/icp/ledger/tests/tests.rs
@@ -67,6 +67,10 @@ fn ledger_wasm_mainnet_v2() -> Vec<u8> {
     std::fs::read(std::env::var("ICP_LEDGER_DEPLOYED_VERSION_V2_WASM_PATH").unwrap()).unwrap()
 }
 
+fn ledger_wasm_mainnet_v3() -> Vec<u8> {
+    std::fs::read(std::env::var("ICP_LEDGER_DEPLOYED_VERSION_V3_WASM_PATH").unwrap()).unwrap()
+}
+
 fn ledger_wasm_allowance_getter() -> Vec<u8> {
     ic_test_utilities_load_wasm::load_wasm(
         std::env::var("CARGO_MANIFEST_DIR").unwrap(),
@@ -1231,8 +1235,8 @@ fn test_block_transformation() {
 }
 
 #[test]
-fn test_upgrade_serialization_from_mainnet() {
-    test_upgrade_serialization(ledger_wasm_mainnet());
+fn test_upgrade_serialization_from_v3() {
+    test_upgrade_serialization(ledger_wasm_mainnet_v3());
 }
 
 #[test]
@@ -1267,9 +1271,9 @@ fn test_upgrade_serialization(ledger_wasm_mainnet: Vec<u8>) {
 }
 
 #[test]
-fn test_multi_step_migration_from_mainnet() {
+fn test_multi_step_migration_from_v3() {
     ic_ledger_suite_state_machine_tests::icrc1_test_multi_step_migration(
-        ledger_wasm_mainnet(),
+        ledger_wasm_mainnet_v3(),
         ledger_wasm_low_instruction_limits(),
         encode_init_args,
     );
@@ -1291,13 +1295,13 @@ fn test_downgrade_from_incompatible_version() {
         ledger_wasm_next_version(),
         ledger_wasm(),
         encode_init_args,
-        false,
+        true,
     );
 }
 
 #[test]
-fn test_stable_migration_endpoints_disabled_from_mainnet() {
-    test_stable_migration_endpoints_disabled(ledger_wasm_mainnet());
+fn test_stable_migration_endpoints_disabled_from_v3() {
+    test_stable_migration_endpoints_disabled(ledger_wasm_mainnet_v3());
 }
 
 #[test]
@@ -1342,9 +1346,9 @@ fn test_stable_migration_endpoints_disabled(ledger_wasm_mainnet: Vec<u8>) {
 }
 
 #[test]
-fn test_incomplete_migration_from_mainnet() {
+fn test_incomplete_migration_from_v3() {
     ic_ledger_suite_state_machine_tests::test_incomplete_migration(
-        ledger_wasm_mainnet(),
+        ledger_wasm_mainnet_v3(),
         ledger_wasm_low_instruction_limits(),
         encode_init_args,
     );
@@ -1360,9 +1364,9 @@ fn test_incomplete_migration_from_v2() {
 }
 
 #[test]
-fn test_incomplete_migration_to_current_from_mainnet() {
+fn test_incomplete_migration_to_current_from_v3() {
     ic_ledger_suite_state_machine_tests::test_incomplete_migration_to_current(
-        ledger_wasm_mainnet(),
+        ledger_wasm_mainnet_v3(),
         ledger_wasm_low_instruction_limits(),
         encode_init_args,
     );
@@ -1378,9 +1382,9 @@ fn test_incomplete_migration_to_current_from_v2() {
 }
 
 #[test]
-fn test_metrics_while_migrating_from_mainnet() {
+fn test_metrics_while_migrating_from_v3() {
     ic_ledger_suite_state_machine_tests::test_metrics_while_migrating(
-        ledger_wasm_mainnet(),
+        ledger_wasm_mainnet_v3(),
         ledger_wasm_low_instruction_limits(),
         encode_init_args,
     );
diff --git a/rs/ledger_suite/icp/tests/upgrade_downgrade.rs b/rs/ledger_suite/icp/tests/upgrade_downgrade.rs
index 6d082add5cf..107c838d405 100644
--- a/rs/ledger_suite/icp/tests/upgrade_downgrade.rs
+++ b/rs/ledger_suite/icp/tests/upgrade_downgrade.rs
@@ -447,7 +447,7 @@ fn should_upgrade_and_downgrade_canister_suite() {
     setup.assert_index_ledger_parity(true);
 
     setup.upgrade_index_canister(UpgradeToVersion::MainNet);
-    setup.upgrade_ledger_canister(UpgradeToVersion::MainNet, false);
+    setup.upgrade_ledger_canister(UpgradeToVersion::MainNet, true);
     setup.upgrade_archive_canisters(UpgradeToVersion::MainNet);
 
     setup.assert_index_ledger_parity(true);