This chemical is primarily utilized as a chiral ligand in asymmetric synthesis, particularly in catalytic reactions where enantioselectivity is crucial. It is often employed in transition metal-catalyzed processes, such as asymmetric hydrogenation, carbon-carbon bond formation, and other stereospecific transformations. Its rigid binaphthalene backbone and methoxymethoxy groups enhance its ability to induce high enantiomeric excess in the resulting products. Additionally, it finds application in the synthesis of pharmaceuticals and fine chemicals, where controlling the stereochemistry of the final product is essential for efficacy and safety.