We use Jira here, we love it. There's one isolated team (my team) that would like to buy plugins and customize Jira with terrific fancy complexity. There's another much more important team here that doesn't want any of that. I'd like to separate Jira instances so that I can operate independently and so that my plugin cost isn't multiplied across all the users who have no need for it.
Is this possible?
What this entails in opening up a second Confluence/Jira cloud instance. That mean you would be paying for multiple instances. It is just a matter of walking through the process of creating a new instance ... you can't do it from within your current instance. You would go to atlassian.com and sign up for a second instance. However, within one company two have multiple instances seems like a waste of money as you would be paying for both. I would lean toward multiple spaces/projects in your instance that are locked down permission wise as opposed to opening up another instance. Maybe there are good reasons to have two separate environments and I'm just not aware of what they are.
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