Used as a key intermediate in asymmetric synthesis, particularly in the preparation of chiral ligands and catalysts. Its binaphthyl backbone provides a rigid, sterically hindered structure that supports enantioselective transformations in catalytic reactions such as cross-coupling, hydrogenation, and C–C bond formation. Commonly employed in the synthesis of axially chiral compounds for use in pharmaceuticals, agrochemicals, and advanced materials. The triflate group acts as a good leaving group, enabling palladium-catalyzed coupling reactions to introduce various substituents at the 6-position.