Enables protein tyrosine phosphatase activity. Involved in several processes, including oligodendrocyte differentiation; peptidyl-tyrosine dephosphorylation; and regulation of myelination. Acts upstream of or within axonogenesis and hematopoietic progenitor cell differentiation. Located in perineuronal net; plasma membrane; and synapse. Is expressed in forelimb; fronto-nasal process mesenchyme; genitourinary system; nervous system; and retina. Orthologous to human PTPRZ1 (protein tyrosine phosphatase receptor type Z1). [provided by Alliance of Genome Resources, Apr 2022]