Degrades extracellular matrix. Exhibits trypsin-like activity as defined by cleavage of synthetic substrates with Arg or Lys as the P1 site (By similarity). Involved in the terminal differentiation of keratinocytes through prostasin (PRSS8) activation and filaggrin (FLG) processing (By similarity). Cleaves various synthetic substrates with Arg or Lys at the P1 position and prefers small side-chain amino acids, such as Ala and Gly, at the P2 position. Interacts with CDCP1. May interact with TMEFF1 (By similarity). Highly expressed in intestine, kidney, lung, and thymus. Not expressed in skeletal muscle, liver, heart, testis and brain. Belongs to the peptidase S1 family.