This chemical is primarily utilized as a chiral resolving agent in asymmetric synthesis, particularly in the separation of enantiomers in organic compounds. Its unique structure, featuring trifluoromethyl groups and a binaphthyl backbone, makes it highly effective in forming stable complexes with chiral molecules, facilitating their resolution. It is often employed in the preparation of enantiomerically pure pharmaceuticals, where the specific chirality of a drug molecule is crucial for its biological activity. Additionally, it serves as a catalyst or ligand in asymmetric catalytic reactions, such as hydrogenation or carbon-carbon bond formation, enhancing the selectivity and efficiency of these processes. Its application is particularly significant in the production of fine chemicals and active pharmaceutical ingredients (APIs) where high enantiomeric purity is required.