Widely used as a chiral N-heterocyclic carbene (NHC) precursor in asymmetric catalysis. It plays a key role in enantioselective transformations such as hydrogenation, cyclopropanation, and C–C bond-forming reactions. The rigid chiral backbone and steric bulk enable high stereocontrol, making it valuable in pharmaceutical synthesis and fine chemical manufacturing. Commonly employed in ruthenium- or palladium-catalyzed reactions where precise chirality transfer is required. Its tetrafluoroborate salt form enhances stability and handling in air-sensitive applications.