SOURCE: One World Ventures, Inc.

One World Ventures, Inc.

February 04, 2010 09:29 ET

One World Ventures, Inc. Updates Sponsor Bank's Approval Status

LAS VEGAS, NV--(Marketwire - February 4, 2010) - One World Ventures, Inc. (PINKSHEETS: OWVI) 1World Card, a provider of prepaid cards, announced that its Sponsor Bank's bid for approval is considered to be in fast track status and expect to have approval within the next 30 to 45 days.

"This process has taken much longer than we initially anticipated," explained Mr. Stephen Prior, CEO of One World Ventures, Inc. "We are at their mercy, but we are excited to know that nothing is holding up the approval other than the process itself. This approval will represent a major milestone in bringing the 1World Card to the under-banked and under-served in the U.S. market, as we are doing in other parts of the world."

One World is currently implementing the three critical phases of the card/remittance process. The most significant is the technology and processing which One World has completed and will start testing in the next few weeks. The sponsor and settlement bank in the U.S. is the second most important. Lastly, the banking and money collection centers in the home countries round out the process.

One World has established relationships in Hong Kong, Indonesia, Mexico, Vietnam and the Philippines. "We have moved forward with the retail side of the business in Hong Kong and the Philippines -- this is very significant. It has given us confidence in the technology component of virtual accounts and remittance," Prior said.

About One World Ventures, Inc.

One World Ventures, Inc. is a holding company with management resourced in Asia and the United States that invests in technologies, communities and systems that facilitate trade, finance, communication and travel across international boundaries, cultures and languages.

Safe Harbor Statement:

Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. One World Ventures, Inc. undertakes no obligation to update any such statements to reflect actual events.

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