This chemical is primarily utilized as a non-coordinating anion in various chemical reactions and processes. Its application is significant in the field of catalysis, particularly in polymerization reactions, where it serves as a counterion to stabilize cationic intermediates. It is also employed in electrochemical studies and organic synthesis, where its weakly coordinating nature is advantageous for facilitating reactions without interfering with the active species. Additionally, it finds use in the preparation of ionic liquids and as a component in certain types of sensors and analytical chemistry applications.