diff --git a/Cargo.lock b/Cargo.lock
index c56caa5d9..96ddbda84 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -183,18 +183,18 @@ checksum = "245097e9a4535ee1e3e3931fcfcd55a796a44c643e8596ff6566d68f09b87bbc"
 
 [[package]]
 name = "cranelift-bforest"
-version = "0.62.0"
+version = "0.63.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "306270b2299cdd5e9736ff48047257d0e846e3bb724766bb6917e66a7c294a90"
+checksum = "d4425bb6c3f3d2f581c650f1a1fdd3196a975490149cf59bea9d34c3bea79eda"
 dependencies = [
  "cranelift-entity",
 ]
 
 [[package]]
 name = "cranelift-codegen"
-version = "0.62.0"
+version = "0.63.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e6d697c867ac38f39bd69b67fa96ac1ac18a0e3ac641e878569f716343851f2b"
+checksum = "d166b289fd30062ee6de86284750fc3fe5d037c6b864b3326ce153239b0626e1"
 dependencies = [
  "byteorder",
  "cranelift-bforest",
@@ -204,6 +204,7 @@ dependencies = [
  "gimli",
  "hashbrown",
  "log",
+ "regalloc",
  "serde",
  "smallvec",
  "target-lexicon",
@@ -212,9 +213,9 @@ dependencies = [
 
 [[package]]
 name = "cranelift-codegen-meta"
-version = "0.62.0"
+version = "0.63.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "2404d7d75c8f343343a86cee4229e058925e64d40bfa2ecdab1f2242a0e1a7e1"
+checksum = "02c9fb2306a36d41c5facd4bf3400bc6c157185c43a96eaaa503471c34c5144b"
 dependencies = [
  "cranelift-codegen-shared",
  "cranelift-entity",
@@ -222,24 +223,24 @@ dependencies = [
 
 [[package]]
 name = "cranelift-codegen-shared"
-version = "0.62.0"
+version = "0.63.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "454e53d0b552b34b57f1efc333d638520e91fdc129258fc219fc1a50ffc4d07b"
+checksum = "44e0cfe9b1f97d9f836bca551618106c7d53b93b579029ecd38e73daa7eb689e"
 
 [[package]]
 name = "cranelift-entity"
-version = "0.62.0"
+version = "0.63.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d36cd0c5bd5de48d222b2bea101b828c208e7a392503f81e5dbaa79000ba04f2"
+checksum = "926a73c432e5ba9c891171ff50b75e7d992cd76cd271f0a0a0ba199138077472"
 dependencies = [
  "serde",
 ]
 
 [[package]]
 name = "cranelift-frontend"
-version = "0.62.0"
+version = "0.63.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "70179dbdc8cad1bdff62dbceb06979cd1e923e218818ed3989adf253d5c7e2ac"
+checksum = "e45f82e3446dd1ebb8c2c2f6a6b0e6cd6cd52965c7e5f7b1b35e9a9ace31ccde"
 dependencies = [
  "cranelift-codegen",
  "hashbrown",
@@ -1052,6 +1053,17 @@ version = "0.0.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "d813022b2e00774a48eaf43caaa3c20b45f040ba8cbf398e2e8911a06668dbe6"
 
+[[package]]
+name = "regalloc"
+version = "0.0.21"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "b27b256b41986ac5141b37b8bbba85d314fbf546c182eb255af6720e07e4f804"
+dependencies = [
+ "log",
+ "rustc-hash",
+ "smallvec",
+]
+
 [[package]]
 name = "regex"
 version = "1.3.7"
@@ -1097,6 +1109,12 @@ version = "0.1.16"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "4c691c0e608126e00913e33f0ccf3727d5fc84573623b8d65b2df340b5201783"
 
+[[package]]
+name = "rustc-hash"
+version = "1.1.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "08d43f7aa6b08d49f382cde6a7982047c3426db949b1424bc4b7ec9ae12c6ce2"
+
 [[package]]
 name = "rustc_version"
 version = "0.2.3"
diff --git a/Cargo.toml b/Cargo.toml
index cc4cc38f1..a6ace2eac 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -55,7 +55,7 @@ test-utils = { path = "tests/lib/test-utils" }
 [features]
 # Don't add the backend features in default, please add them on the Makefile
 # since we might want to autoconfigure them depending on the availability on the host.
-default = ["wast", "compiler-cranelift", "cache"]
+default = ["wasi", "compiler-cranelift", "cache"]
 cache = ["wasmer-cache"]
 wast = ["wasmer-wast"]
 wasi = ["wasmer-wasi"]
diff --git a/lib/compiler-cranelift/Cargo.toml b/lib/compiler-cranelift/Cargo.toml
index f53351e4f..186965ca9 100644
--- a/lib/compiler-cranelift/Cargo.toml
+++ b/lib/compiler-cranelift/Cargo.toml
@@ -14,8 +14,8 @@ edition = "2018"
 [dependencies]
 hashbrown = { version = "0.7.2", optional = true }
 tracing = "0.1"
-cranelift-codegen = { version = "0.62.0", default-features = false }
-cranelift-frontend = { version = "0.62.0", default-features = false }
+cranelift-codegen = { version = "0.63.0", default-features = false }
+cranelift-frontend = { version = "0.63.0", default-features = false }
 wasmer-compiler = { path = "../compiler", version = "0.16.2", features = ["translator"], default-features = false }
 wasmer-runtime = { path = "../runtime", version = "0.16.2" }
 wasm-common = { path = "../wasm-common", version = "0.16.2", default-features = false }
@@ -25,7 +25,7 @@ more-asserts = "0.2.1"
 
 [dev-dependencies]
 target-lexicon = { version = "0.10.0", default-features = false }
-cranelift-codegen = { version = "0.62.0", features = ["enable-serde", "all-arch"] }
+cranelift-codegen = { version = "0.63.0", features = ["enable-serde", "all-arch"] }
 lazy_static = "1.4.0"
 
 [badges]
diff --git a/lib/wasm-common/Cargo.toml b/lib/wasm-common/Cargo.toml
index c8dadd5ab..63fcfee8b 100644
--- a/lib/wasm-common/Cargo.toml
+++ b/lib/wasm-common/Cargo.toml
@@ -13,7 +13,7 @@ edition = "2018"
 [dependencies]
 # The cranelift-entity is just useful structures, not anything about the
 # compiler itself, that's why we depend on it :)
-cranelift-entity = "0.62.0"
+cranelift-entity = "0.63.0"
 serde = { version = "1.0.106", features = ["derive"], optional = true }
 
 [features]