Widely used as a chiral ligand in asymmetric catalysis, this compound plays a key role in enantioselective transformations such as hydrogenation, carbon-carbon bond formation, and cross-coupling reactions. Its rigid binaphthyl backbone and bulky phosphine groups enhance stereocontrol, making it effective in producing high enantiomeric excess in pharmaceutical and fine chemical synthesis. It is particularly valuable in transition metal-catalyzed reactions where precise chirality transfer is required.