Predicted to enable several functions, including GPI anchor binding activity; cysteine-type endopeptidase inhibitor activity involved in apoptotic process; and metallodipeptidase activity. Predicted to be involved in several processes, including GPI anchor release; carboxylic acid metabolic process; and cellular response to nitric oxide. Predicted to be located in several cellular components, including apical part of cell; endoplasmic reticulum membrane; and nucleoplasm. Predicted to be active in plasma membrane. Orthologous to human DPEP1 (dipeptidase 1). [provided by Alliance of Genome Resources, Apr 2022]