Photo taken on Aug. 21, 2020 shows a logo of the video-sharing social networking company TikTok's Los Angeles Office in Culver City, Los Angeles County, the United States. (Xinhua)

- TikTok disclosed some details about the three-party agreement, saying Oracle will become its "trusted technology provider," and Walmart will play a role in "commercial partnership."

- Both American companies will take part in TikTok's global pre-IPO financing round in which they can take up to 20 percent cumulative stake in the company, a statement said.

- "We will also maintain and expand TikTok Global headquarters in the U.S., while bringing 25,000 jobs across the country," the company said.

LOS ANGELES, Sept. 20  -- Video-sharing social networking platform TikTok on Saturday voiced hope that an agreement reached by its Chinese parent company ByteDance with Oracle and Walmart will "resolve the security concerns of the U.S. administration and settle questions around TikTok's future in the U.S.."

The Los Angeles-based company issued a statement Saturday afternoon, hours after U.S. President Donald Trump said he had approved a deal between the three parties.

TikTok disclosed some details about the three-party agreement handed over to the authority Monday and weighed by the White House so far, saying Oracle will become its "trusted technology provider," and Walmart will play a role in "commercial partnership."

As part of this proposal, Oracle would be in charge of hosting TikTok's all U.S. user data and securing associated computer systems to "ensure U.S. national security requirements are fully satisfied," the statement noted.

According to the company, as of June, the total number of TikTok's monthly active users in the country soared to 91,937,040, and based on quarterly usage, 100 million Americans used the app.