Bitcoin history was made on Monday after the digital currency opened for trading on the first licensed U.S. exchange.

The bitcoin service provider Coinbase previously acted as a brokerage service for bitcoin users. On Monday, it began providing an exchange where individuals and institutions can trade bitcoin in real-time in a more secure environment.

Coinbase is backed by a $106 million investment from the New York Stock Exchange and various other financial service institutions – creating a more trustworthy exchange environment. This contrasts Mt. Gox, a popular bitcoin exchange in which many individuals saw their money disappear.

The exchange has already gained approval in 24 jurisdictions, including California and New York but plans to expand across the U.S. and internationally.

The price of one bitcoin was seen trading higher by nearly 10 percent at $278.69 Monday morning.

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