diff --git a/CHANGELOG.md b/CHANGELOG.md
index dcdb198416..6b01b7089f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,8 @@
 # Changelog
 
-## Upcoming 7.0.0.alpha
+## Unreleased
+
+## 7.0.0
 
 - **Breaking change**: Require Ruby >= 3.1 and i18n ~> 1.9
 - **Breaking change**: Remove deprecated formatting rules:
diff --git a/README.md b/README.md
index 4ce3268be8..c066f84838 100644
--- a/README.md
+++ b/README.md
@@ -5,7 +5,7 @@
 [![Inline docs](https://img.shields.io/badge/docs-github.io-green.svg)](https://rubymoney.github.io/money/)
 [![License](https://img.shields.io/github/license/RubyMoney/money.svg)](https://opensource.org/license/MIT)
 
-:warning: Please read the [migration notes](#migration-notes) before upgrading to a new major version.
+:warning: Please read the [upgrade guides](#upgrade-guides) before upgrading to a new major version.
 
 If you miss String parsing, check out the new [monetize gem](https://github.com/RubyMoney/monetize).
 
@@ -610,18 +610,11 @@ I18n.enforce_available_locales = false
 
 Prior to v6.9.0 heuristic analysis of string input was part of this gem. Since then it was extracted in to [money-heuristics gem](https://github.com/RubyMoney/money-heuristics).
 
-## Migration Notes
-
-#### Version 6.0.0
-
-- The `Money#dollars` and `Money#amount` methods now return instances of
-  `BigDecimal` rather than `Float`. We should avoid representing monetary
-  values with floating point types so to avoid a whole class of errors relating
-  to lack of precision. There are two migration options for this change:
-  * The first is to test your application and where applicable update the
-    application to accept a `BigDecimal` return value. This is the recommended
-    path.
-  * The second is to migrate from the `#amount` and `#dollars` methods to use
-    the `#to_f` method instead. This option should only be used where `Float`
-    is the desired type and nothing else will do for your application's
-    requirements.
+## Upgrade Guides
+
+When upgrading between major versions, please refer to the appropriate upgrade guide:
+
+- **[Upgrading to 7.0](UPGRADING-7.0.md)** - Guide for migrating from 6.x to 7.0
+- **[Upgrading to 6.0](UPGRADING-6.0.md)** - Guide for upgrading to version 6.0
+
+These guides provide detailed information about breaking changes, new features, and step-by-step migration instructions.
diff --git a/UPGRADING-6.0.md b/UPGRADING-6.0.md
new file mode 100644
index 0000000000..25e588c7dc
--- /dev/null
+++ b/UPGRADING-6.0.md
@@ -0,0 +1,15 @@
+# Upgrading to Money 6.0
+
+## Version 6.0.0
+
+- The `Money#dollars` and `Money#amount` methods now return instances of
+  `BigDecimal` rather than `Float`. We should avoid representing monetary
+  values with floating point types so to avoid a whole class of errors relating
+  to lack of precision. There are two migration options for this change:
+  * The first is to test your application and where applicable update the
+    application to accept a `BigDecimal` return value. This is the recommended
+    path.
+  * The second is to migrate from the `#amount` and `#dollars` methods to use
+    the `#to_f` method instead. This option should only be used where `Float`
+    is the desired type and nothing else will do for your application's
+    requirements.
diff --git a/UPGRADING-7.0.md b/UPGRADING-7.0.md
new file mode 100644
index 0000000000..3a33fe9905
--- /dev/null
+++ b/UPGRADING-7.0.md
@@ -0,0 +1,331 @@
+# Upgrading to Money 7.0
+
+This guide provides step-by-step instructions for upgrading from Money 6.x to 7.0.
+
+## Requirements
+
+### Ruby Version
+**Action Required:** Upgrade to Ruby 3.1 or later.
+
+Money 7.0 requires Ruby >= 3.1.
+
+```ruby
+# .ruby-version
+3.1.0
+```
+
+### i18n Version
+**Action Required:** Ensure you're using i18n ~> 1.9.
+
+```ruby
+# Gemfile
+gem 'i18n', '~> 1.9'
+```
+
+## Breaking Changes
+
+### 1. Default Currency Changed from USD to nil
+
+**What changed:** `Money.default_currency` now defaults to `nil` instead of `"USD"`.
+
+**Impact:** Initializing a Money object without specifying a currency will now raise `Currency::NoCurrency` instead of defaulting to USD.
+
+```ruby
+# Before (6.x)
+Money.new(100)  # => #<Money @fractional=100 @currency="USD">
+
+# After (7.0)
+Money.new(100)  # => raises Currency::NoCurrency
+```
+
+**Migration:**
+
+Option 1: Set the default currency in your initializer (recommended if you primarily use one currency):
+
+```ruby
+# config/initializers/money.rb
+Money.setup_defaults
+Money.default_currency = Money::Currency.new("USD")
+```
+
+Option 2: Always specify the currency explicitly:
+
+```ruby
+Money.new(1_00, "USD")
+```
+
+### 2. Default Rounding Mode Changed
+
+**What changed:** The default rounding mode changed from `BigDecimal::ROUND_HALF_EVEN` (banker's rounding) to `BigDecimal::ROUND_HALF_UP` (standard rounding).
+
+**Impact:** Mathematical operations may produce different results when rounding is involved.
+
+```ruby
+# Before (6.x) - ROUND_HALF_EVEN
+Money.new(2_50, "USD") / 3  # => #<Money @fractional=83.33...>
+
+# After (7.0) - ROUND_HALF_UP
+Money.new(2_50, "USD") / 3  # => #<Money @fractional=83.33...> (may differ in edge cases)
+```
+
+**Migration:**
+
+If you need the old behavior, set it explicitly:
+
+```ruby
+# config/initializers/money.rb
+Money.rounding_mode = BigDecimal::ROUND_HALF_EVEN
+```
+
+### 3. Locale Backend Changes
+
+**What changed:**
+- Removed `Money.use_i18n` and `Money.use_i18n=` methods
+- Removed legacy locale backend
+- Default locale backend changed from `:legacy` to `:currency`
+
+**Impact:** Formatting behavior changes if you were using the default settings.
+
+**Migration:**
+
+If you want i18n-based formatting (the old default behavior):
+
+```ruby
+# config/initializers/money.rb
+Money.locale_backend = :i18n
+```
+
+If you want currency-based formatting (new default):
+
+```ruby
+# config/initializers/money.rb
+Money.locale_backend = :currency  # This is now the default
+```
+
+If you were using `use_i18n`:
+
+```ruby
+# Before (6.x)
+Money.use_i18n = true
+
+# After (7.0)
+Money.locale_backend = :i18n
+```
+
+### 4. Removed Deprecated Methods
+
+**What changed:** Several deprecated methods have been removed.
+
+**Migration:**
+
+| Removed Method | Replacement |
+|----------------|-------------|
+| `Money.infinite_precision` | `Money.default_infinite_precision` |
+| `Money.infinite_precision=` | `Money.default_infinite_precision=` |
+| `Money#currency_as_string` | `Money#currency.to_s` |
+| `Money#currency_as_string=` | Pass currency to constructor |
+| `Money#dollars` | `Money#amount` |
+| `Money.from_dollars` | `Money.from_amount` |
+| `Money#round_to_nearest_cash_value` | `Money#to_nearest_cash_value.fractional` |
+
+**Examples:**
+
+```ruby
+# Before (6.x)
+Money.infinite_precision = true
+money = Money.new(1_00)
+money.dollars # => 1.0
+Money.from_dollars(5.50, "USD")
+money.round_to_nearest_cash_value
+
+# After (7.0)
+Money.default_infinite_precision = true
+money = Money.new(1_00, "USD")
+money.amount # => 1.0
+Money.from_amount(5.50, "USD")
+money.to_nearest_cash_value.fractional
+```
+
+### 5. Removed Deprecated Formatting Rules
+
+**What changed:** Several deprecated formatting options have been removed.
+
+**Removed options:**
+- `:html`
+- `:html_wrap_symbol`
+- `:symbol_position`
+- `:symbol_before_without_space`
+- `:symbol_after_without_space`
+
+**Migration:**
+
+Use the supported formatting options instead:
+
+```ruby
+# Before (6.x)
+money.format(symbol_position: :before)
+money.format(html: true)
+
+# After (7.0)
+money.format(symbol: true)
+money.format(html_wrap: true)
+```
+
+### 6. Strict Equality Comparison for Zero Amounts
+
+**What changed:** Comparing zero amounts with different currencies using `#eql?` now returns `false` by default when `Money.strict_eql_compare = true`.
+
+**Migration:**
+
+The old behavior still works by default in 7.0, but you'll see deprecation warnings:
+
+```ruby
+# Current behavior (with deprecation warning)
+Money.new(0, "USD").eql?(Money.new(0, "EUR"))  # => true (with warning)
+
+# Opt in to new behavior
+Money.strict_eql_compare = true
+Money.new(0, "USD").eql?(Money.new(0, "EUR"))  # => false
+```
+
+**Recommended:** Set `Money.strict_eql_compare = true` in your initializer to opt in to the stricter behavior and silence warnings.
+
+### 7. Division by Zero Now Raises an Error
+
+**What changed:** Dividing a Money object by zero now raises an error instead of returning infinity, an undefined value or an ArgumentError.
+
+**Impact:** Code that previously performed division by zero will now raise an exception.
+
+```ruby
+# Before (6.x)
+Money.new(1_00, "USD") / 0  # => May have returned Infinity or undefined behavior
+
+# After (7.0)
+Money.new(1_00, "USD") / 0  # => raises ZeroDivisionError
+```
+
+**Migration:**
+
+Ensure your code checks for zero before performing division:
+
+```ruby
+divisor = some_value
+if divisor.zero?
+  # Handle the zero case appropriately
+  handle_zero_divisor
+else
+  Money.new(1_00, "USD") / divisor
+end
+```
+
+## Currency-Specific Changes
+
+### Serbian Dinar (RSD)
+Formatting changed to use proper thousands and decimal separators:
+
+```ruby
+# Before: 12345,42 RSD
+# After:  12.345,42 RSD
+```
+
+### USD Coin (USDC)
+Decimal places changed from 2 to 6 to match cryptocurrency standard:
+
+```ruby
+Money.new(1_000_000, "USDC").format  # Now shows 6 decimal places
+```
+
+### Malagasy Ariary (MGA)
+Changed to zero-decimal currency (subunit_to_unit: 5 → 1):
+
+```ruby
+Money.new(100, "MGA").format  # No decimal places shown
+```
+
+## Complete Initializer Example
+
+Here's a complete initializer that maintains 6.x behavior:
+
+```ruby
+# config/initializers/money.rb
+
+# Setup defaults first
+Money.setup_defaults
+
+# Maintain old default currency
+Money.default_currency = Money::Currency.new("USD")
+
+# Maintain old rounding mode
+Money.rounding_mode = BigDecimal::ROUND_HALF_EVEN
+
+# Use i18n for formatting (old default behavior)
+Money.locale_backend = :i18n
+
+# Optional: Enable strict equality comparison
+# Money.strict_eql_compare = true
+```
+
+## New Features in 7.0
+
+While upgrading, consider taking advantage of these new features:
+
+### Nested Bank and Rounding Mode Blocks
+
+```ruby
+Money.with_bank(bank1) do
+  Money.with_bank(bank2) do
+    # Uses bank2
+  end
+  # Uses bank1
+end
+
+Money.with_rounding_mode(BigDecimal::ROUND_UP) do
+  Money.with_rounding_mode(BigDecimal::ROUND_DOWN) do
+    # Uses ROUND_DOWN
+  end
+  # Uses ROUND_UP
+end
+```
+
+### Enhanced Allocation
+
+```ruby
+# Specify precision per split
+Money.new(100, "USD").allocate([1, 1, 1], 2)
+```
+
+### Currency Utilities
+
+```ruby
+currency = Money::Currency.new("USD")
+currency.cents_based?  # => true
+```
+
+## Testing Your Upgrade
+
+1. **Update your Gemfile:**
+   ```ruby
+   gem 'money', '~> 7.0'
+   ```
+
+2. **Run bundle update:**
+   ```bash
+   bundle update money
+   ```
+
+3. **Run your test suite:**
+   ```bash
+   bundle exec rake test  # or rspec, etc.
+   ```
+
+4. **Check for deprecation warnings** and address them.
+
+5. **Review formatting output** if you use `Money#format` extensively.
+
+6. **Test mathematical operations** if you rely on specific rounding behavior.
+
+## Getting Help
+
+- Check the [README](README.md) for detailed documentation
+- Review the [CHANGELOG](CHANGELOG.md) for all changes
+- Open an issue on [GitHub](https://github.com/RubyMoney/money/issues) if you encounter problems
diff --git a/lib/money/version.rb b/lib/money/version.rb
index 25f725d6d8..b712ec656d 100644
--- a/lib/money/version.rb
+++ b/lib/money/version.rb
@@ -1,5 +1,5 @@
 # frozen_string_literal: true
 
 class Money
-  VERSION = '6.19.0'.freeze
+  VERSION = '7.0.0'.freeze
 end