This chemical is a water-soluble phosphine ligand widely used in transition metal catalysis, particularly in cross-coupling reactions such as Suzuki-Miyaura and Heck reactions in aqueous media. Its strong electron-donating properties, wide bite angle, and steric bulk enhance the stability and reactivity of the metal complexes, making it valuable in organic synthesis. It is also employed in hydroformylation processes, which are important in the petrochemical industry for producing intermediates for plastics and other chemicals, as well as in the synthesis of pharmaceuticals and fine chemicals.