A proposal in which Oracle will work with TikTok owner ByteDance is under review by the US government, Oracle confirms Monday.
TikTok is under fire in the United States because, according to the White House, the originally Chinese app endangers the national security of the country.
With the confirmation, Oracle responds to a statement by US Treasury Secretary Steven Mnuchin.
earlier on Monday
that the ministry has received a proposal whereby Oracle becomes TikTok's "trusted technology partner".
The secretary did not reveal all the details about the proposal, but said that Oracle is addressing concerns about US national security.
Also, the global leadership of TikTok would be headquartered in the US under the proposal.
Mnuchin also stressed that the deadline for the deal is September 20 and not five days earlier, as President Donald Trump said earlier.
The Committee on Foreign Investments in the United States (CFIUS), part of the Treasury Department, will review the proposal this week.
Then comes a recommendation to Trump, according to Mnuchin.
Apart from the confirmation, Oracle does not open a booklet about the contents of the deal in its statement.
US media previously reported that Oracle will be responsible for the processing of US users' data under the deal.
It's unclear how Trump will respond to the plan the two companies have sent to the ministry.
The president previously stated that he only wanted to settle for the sale of TikTok to an American company.