Has both L-asparaginase and beta-aspartyl peptidase activity. Does not have aspartylglucosaminidase activity and is inactive toward GlcNAc-L-Asn. Likewise, has no activity toward glutamine (By similarity). Cleavage of a beta-linked Asp residue from the N-terminus of a polypeptide. H2O + L-asparagine = L-aspartate + NH4(+) Heterodimer of an alpha and beta chain produced by autocleavage. Cleaved into an alpha and beta chain by autocatalysis; this activates the enzyme. The N-terminal residue of the beta subunit is responsible for the nucleophile hydrolase activity (By similarity). Belongs to the Ntn-hydrolases family.