Used in the synthesis of platinum-based catalysts for industrial chemical reactions, particularly in selective hydrogenation processes. It serves as a precursor in the preparation of fine chemicals, pharmaceutical intermediates, and bioactive platinum compounds, especially in cancer drug research, due to its controlled platinum release, solubility properties, and ability to act as an efficient platinum carrier into cells. Also applied in electroplating baths to deposit smooth, adherent platinum coatings on metals, enhancing corrosion resistance and electrical conductivity. Its mild decomposition behavior makes it suitable for use in homogeneous catalysis under low-temperature conditions, in organic reactions requiring a mild basic environment with controlled transition metal stability, and in nanotechnology for creating platinum nanoparticles with specific size and shape.