Used primarily in the synthesis of platinum-based catalysts for industrial and laboratory applications. It serves as a precursor in the preparation of other platinum compounds used in catalytic converters, fuel cells, and fine chemical manufacturing. Commonly employed in homogeneous catalysis for hydrogenation and oxidation reactions. Also utilized in electroplating processes to deposit platinum coatings on metals, providing corrosion resistance and improved conductivity. Plays a role in research settings for developing new platinum-containing materials and in the calibration of analytical instruments requiring platinum standards.