diff --git a/setup.sh b/setup.sh
index d9376573..8fd1b630 100755
--- a/setup.sh
+++ b/setup.sh
@@ -1,3 +1,21 @@
+#!/usr/bin/env bash
 
 # Configure githooks folder path
-git config core.hooksPath .githooks
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+git config core.hooksPath .githooks
+
+# Carthage
+
+xcconfig=$(mktemp /tmp/static.xcconfig.XXXXXX)
+trap 'rm -f "$xcconfig"' INT TERM HUP EXIT
+
+# For Xcode 12 make sure EXCLUDED_ARCHS is set to arm architectures otherwise
+# the build will fail on lipo due to duplicate architectures.
+
+CURRENT_XCODE_VERSION=$(xcodebuild -version | grep "Build version" | cut -d' ' -f3)
+echo "EXCLUDED_ARCHS__EFFECTIVE_PLATFORM_SUFFIX_simulator__NATIVE_ARCH_64_BIT_x86_64__XCODE_1200__BUILD_$CURRENT_XCODE_VERSION = arm64 arm64e armv7 armv7s armv6 armv8" >> $xcconfig
+
+echo 'EXCLUDED_ARCHS__EFFECTIVE_PLATFORM_SUFFIX_simulator__NATIVE_ARCH_64_BIT_x86_64__XCODE_1200 = $(EXCLUDED_ARCHS__EFFECTIVE_PLATFORM_SUFFIX_simulator__NATIVE_ARCH_64_BIT_x86_64__XCODE_1200__BUILD_$(XCODE_PRODUCT_BUILD_VERSION))' >> $xcconfig
+echo 'EXCLUDED_ARCHS = $(inherited) $(EXCLUDED_ARCHS__EFFECTIVE_PLATFORM_SUFFIX_$(EFFECTIVE_PLATFORM_SUFFIX)__NATIVE_ARCH_64_BIT_$(NATIVE_ARCH_64_BIT)__XCODE_$(XCODE_VERSION_MAJOR))' >> $xcconfig
+
+export XCODE_XCCONFIG_FILE="$xcconfig"
+carthage bootstrap --platform iOS --cache-builds
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