Oracle said Monday that the Chinese owner of TikTok has picked the U.S. company to be its “trusted technology provider,” beating out rival Microsoft in a deal that could help keep the popular video-sharing app running in the U.S.

Oracle spokeswoman Deborah Hellinger said she was confirming remarks made by U.S. Treasury Secretary Steven Mnuchin, who told CNBC on Monday that TikTok’s parent company, ByteDance, submitted its proposal to the U.S. government for approval. “We did get a proposal over the weekend that includes Oracle as the trusted technology partner with Oracle making many representations for national security issues,” Mnuchin said.

Mnuchin said there’s also a commitment to make TikTok’s global operations a U.S.-headquartered company with 20,000 new jobs.

President Donald Trump’s administration has threatened to ban TikTok by Sept. 20 and ordered owner ByteDance to sell its U.S. business, claiming national security risks due to its Chinese ownership. The government worries about user data being funneled to Chinese authorities. TikTok denies it is a national security risk and is suing to stop the administration from enacting the threatened ban.

Walmart, which had planned to partner with Microsoft on the acquisition, said Sunday it “continues to have an interest in a TikTok investment” and is talking about it with ByteDance and other parties.

Much remains unclear about the proposed deal with Oracle, including whether it will only cover TikTok’s U.S. business, and, if so, how it will be split from the rest of TikTok’s social media platform, which is popular worldwide. ByteDance also owns a similar video app, Douyin, for the Chinese market.

Any deal must still be reviewed by the Committee on Foreign Investment in the United States, known as CFIUS, a U.S. government group chaired by the Treasury Secretary that studies mergers for national security reasons. The president can approve or deny a transaction recommended by the panel, though Trump has already voiced support for Oracle as a “great company” that could handle the acquisition.

Microsoft said in a Sunday statement that ByteDance “let us know today they would not be selling TikTok’s US operations to Microsoft.”

Microsoft added it was “confident our proposal would have been good for TikTok’s users, while protecting national security interests.” The company said it “would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combating disinformation.”

TikTok, which says it has 100 million U.S. users and about 700 million globally, is known for its fun, goofy videos of dancing, lip-syncing, pranks and jokes. It’s recently become home to more political content.

The app has raised concerns because of its Chinese ownership. The White House has cracked down on a range of Chinese businesses, including telecom equipment makers Huawei and ZTE and messaging app WeChat, over worries that they would enable Chinese authorities to access U.S. user data. TikTok denies that it has shared user data with the Chinese government or that it would do so if asked. The company says it has not censored videos at the request of Chinese authorities.