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 electron-donating methoxy groups enhance stereoselectivity and catalyst stability. Commonly employed in transition metal complexes with ruthenium, palladium, and gold for high enantiomeric excess in pharmaceutical and fine chemical synthesis. Also applied in organocatalytic reactions where metal-free conditions are preferred. Its tetrafluoroborate salt form ensures good solubility and handling stability in air-sensitive reactions.