Oracle offers to become TikTok's partner in the US
New Delhi : Tech giant Oracle has placed a bid to become an American partner of the Chinese-owned TikTok video app after the US authorities tagged it in the category of potential national security risk.
Treasury Secretary Steven Mnuchin confirmed the offer Monday concerning TikTok's US operations after its parent company ByteDance rejected a proposal from Microsoft.
TikTok said in a statement that "we've submitted a proposal to the Treasury Department which we believe would resolve the Administration's security concerns" and allow the company to continue to be used by 100 million people in the US.
However, it is still not clear if the US officials will give a green signal to the Oracle or the cluster of dark clouds will remain over the future of TikTok in the US.
"We did get a proposal over the weekend that includes Oracle as the trusted technology partner," Mnuchin said on CNBC, adding that the bid would be handled by a government panel that reviews foreign transactions for national security concerns.
"We need to make sure that the code is, one, secure, Americans' data are secure, phones are secure, and we'll be having discussions with Oracle over the next few days with our technical teams," Mnuchin said.
Oracle confirmed its submission, saying the company "is part of the proposal by ByteDance to the Treasury Department over the weekend in which Oracle will serve as the trusted technology provider."
Donald Trump has ordered the sale of the Chinese company's US operations by September 20, after which the app would shut down.