This compound is primarily used as a phase-transfer catalyst in organic synthesis, facilitating the transfer of reactants between immiscible phases, such as aqueous and organic layers. It is particularly effective in reactions involving anions, where it helps to enhance reaction rates and yields. Additionally, it finds application in the preparation of ion-selective electrodes, where it acts as an ionophore to improve the selectivity and sensitivity of the electrode towards specific ions. Its unique structure also makes it suitable for use in the development of advanced materials, such as liquid crystals and polymers, where it can influence the material's properties and performance.