Widely used as a chiral ligand in asymmetric catalysis, this compound plays a key role in enantioselective transformations such as hydrogenation, cross-coupling, and C–H activation reactions. Its sterically hindered, axially chiral binaphthyl backbone enhances stereocontrol, making it valuable in the synthesis of pharmaceuticals and fine chemicals where high enantiomeric purity is required. It is particularly effective in palladium- and rhodium-catalyzed reactions, enabling efficient construction of chiral centers with excellent yield and selectivity.