Mountain Top University Library

The aim of this study is to develop a robust system for facilitating cross-border financial transactions using virtual tokens. The system is designed to operate on a centralized platform, ensuring the security and transparency of transactions. The system
and user requirements of the applications were identified by reviewing various literature, existing systems, and government regulatory policies. The system design was specified using UML diagrams; such are use case, sequence, and class diagram. The
backend was implemented using GraphQL, Node.js and Typescript. The frontend was implemented using Next.js and Typescript. The technology used for the database was MongoDB. The result of the system showed that users can register an account based on a specific role either an admin or a user. The users can deposit fiat currency in exchange for virtual tokens, transfer the virtual tokens to other users, and also withdraw the tokens to their local currency. While the admin can monitor user activity, update user roles, and manage various system settings. The study concluded that the use of a virtual wallet application, that makes use of a centralized database, would help in making crossborder financial transactions much easier and faster, and also bypass most of the current limitations Keywords: Cross-border financial transactions, Fiat Currency, Virtual Tokens, Virtual Wallet Application