Mitsui Digital Commodities Deploys Zipangcoin Tokenised Metals on OP Mainnet

Mitsui & Co. Digital Commodities, a subsidiary of the Japanese trading firm Mitsui & Co., has deployed its tokenised metals asset, Zipangcoin, on OP Mainnet. OP Mainnet is Optimism's Ethereum Layer 2 network. The token represents claims on gold, silver, and platinum. ZPG has operated under Japan's regulatory framework since 2022. Until now, it ran exclusively on Miyabi, a private blockchain built by the bitFlyer crypto exchange. I see this move to OP Mainnet as a practical step to access broader liquidity and composability. It is the first time the asset will be issued on a public blockchain. The centralised exchange GMO Coin, based in Japan, plans to list ZPG on 20 April. We can expect further integrations as the asset expands into the public ecosystem. The next item to watch will be actual on-chain volume and whether other Japanese tokenised assets follow a similar public-network migration path.