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At a time when the U.S. has declared trade wars against its biggest partners, Mastercard said today that it is launching a new platform that can cut through and allow trillions of dollars in cross-border business to continue.

What's going on: Michael Froman, Mastercard vice chairman, tells Axios that the platform — called Track — allows businesses and their suppliers to carry out due diligence, contracts, payment, delivery and more. "At a time that governments are having trouble breaking down barriers, the private sector can step in," Froman says.

The details: The platform will include a newsfeed and connections to 150 million companies in 76 countries, in addition to more than 500 legal compliance programs, he says. It is launching in Singapore in January.

What it's disrupting: In 2016, $58 trillion of business-to-business transactions around the world were conducted on paper, Froman says. The disruption will be allowing such business to be done automatically. "It will be all in one place so you don't have to look everywhere for it," he says.

Go deeper

Updated 22 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — U.S. tops 88,000 COVID-19 cases, setting new single-day record.
  2. Politics: States beg for Warp Speed billions.
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases.
  4. 🎧Podcast: The vaccine race turns toward nationalism.

Technical glitch in Facebook's ad tools creates political firestorm

Facebook CEO Mark Zuckerberg. Photo: SOPA Images / Contributor

Facebook said late Thursday that a mix of "technical problems" and confusion among advertisers around its new political ad ban rules caused issues affecting ad campaigns of both parties.

Why it matters: A report out Thursday morning suggested the ad tools were causing campaign ads, even those that adhered to Facebook's new rules, to be paused. Very quickly, political campaigners began asserting the tech giant was enforcing policies in a way that was biased against their campaigns.

2 hours ago - Health

States beg for Warp Speed billions

A COVID-19 drive-thru testing center yesterday at Hard Rock Stadium in Miami Gardens. Photo: David Santiago/Miami Herald via AP

Operation Warp Speed has an Achilles' heel: States need billions to distribute vaccines — and many say they don't have the cash.

Why it matters: The first emergency use authorization could come as soon as next month, but vaccines require funding for workers, shipping and handling, and for reserving spaces for vaccination sites.