Used as a catalyst precursor in organic synthesis, particularly in cross-coupling reactions such as Suzuki and Heck reactions. It serves as a source of palladium(II) in homogeneous catalytic systems. Applied in the preparation of functionalized aromatic compounds and fine chemicals. Also utilized in electrochemical applications and in the synthesis of palladium nanoparticles for catalysis. Its hydrate form improves solubility in polar solvents, enhancing reactivity in aqueous or mixed solvent systems.