PayPal Holdings Inc (PYPL.O) shares jumped as much as 11 percent, after returning to the Nasdaq this morning.

Today marks the day that Paypal splits from eBay, who bought the payments company 12 years ago in order to provide a reliable payment service for the young online marketplace. Paypal began began trading separately again this morning, with shares soaring to $42.55 in early trading. eBay’s stock fell 4.7 percent, valuing the company at about $32 billion.

eBay CEO John Donahoe said the decision was best for both businesses, as well as their shareholders. He added that the two companies will continue to work closely together.

Paypal CEO Dan Shulman opes to use Paypal to enable more people to transfer and manage money more easily. He told Reuters: “It’s clear that the potential for mobile technology to transform money extends beyond commerce. The vast majority of the world’s 7 billion people lack access to even basic financial services.”