Mitsui & Co. Digital Commodities (MDC), a subsidiary of Japanese trading giant Mitsui & Co., Ltd., is listing its tokenized gold, silver and platinum asset, Zipangcoin (ZPG), on OP Mainnet, according to a press release shared with The Defiant.
ZPG has been released under the Japanese regulatory framework since 2022 and currently runs on Miyabi, a proprietary private blockchain developed by legacy crypto exchange bitFlyer.
The OP Mainnet implementation marks the first time the asset has been issued in a public blockchain ecosystem. According to the release, Japan’s CEX GMO Coin will list ZPG on April 20.
MDC’s parent company, Mitsui & Co., is a Fortune Global 500 conglomerate with a market capitalization of more than $94 billion, and Berkshire Hathaway as its largest shareholder, according to the release notes.
MDC also stated in the press release that the choice of OP Mainnet is the result of deliberate due diligence, highlighting that OP Stack chains will have processed more than 6 billion transactions by 2025 – a 29x growth in two years.
According to DefiLlama, OP Mainnet currently owns over $1.1 billion in bridged TVL, a stablecoin market cap of $538 million, and $165 million in weekly DEX volume.
“Zipangcoin’s strength lies in the security and transparency we have built under Japan’s strict regulatory framework since 2022,” said Sho Miichi, representative director and president of MDC.
“We are pleased to partner with Optimism to bring a high-quality commodity-linked digital asset from Japan to investors around the world.” Kyle Jenke, Chief Business Officer at OP Labs, described Japan’s regulatory clarity as “one of the most attractive markets for on-chain financing.”
ZPG’s launch fits into a broader wave of institutional-quality assets moving up the chain. On-chain tokenized RWAs tripled to roughly $18.6 billion over the course of 2025, with analysts predicting the market could reach $2 trillion by 2030. Optimism has emerged as a preferred destination for regulated products: ether.fi recently migrated its crypto neobank – with $5.7 billion in TVL and around 50,000 active cards – from Scroll to OP Mainnet to gain access to enterprise-level payment infrastructure. A century-old commodity trading house choosing the same chain for a regulated product for physical assets signals the shift is widening.
This article was written using AI workflows. All of our stories are curated, edited, and fact-checked by a human.