Used as an intermediate in the synthesis of pharmaceuticals and fine chemicals, particularly in the development of serotonin receptor agonists and psychedelics such as 2C-B derivatives. Its structure allows for selective protection of amine functionalities during multi-step organic syntheses. Commonly employed in medicinal chemistry for building complex molecules where controlled deprotection and functional group manipulation are required. Also utilized in research settings for labeling and probing biological systems due to its stability and reactivity profile.