Used as a precursor in the synthesis of platinum-based catalysts for industrial chemical processes, including hydrosilylation reactions in the silicone industry. It serves as a catalyst in the curing of silicones, enabling cross-linking for improved thermal and mechanical stability. Employed in electroplating to deposit thin, uniform layers of platinum on metals for corrosion resistance and electrical conductivity. Applied in the preparation of supported platinum catalysts used in fuel cells and automotive emission control systems. Also utilized in analytical chemistry for platinum plating of electrodes and as a reagent in spectrophotometric analysis.