Potassium bis(oxalato)platinate(II) dihydrate is a stable, water-soluble platinum(II) complex. Used in catalysis for organic synthesis, particularly in hydrogenation and oxidation reactions. It serves as a precursor for preparing other platinum complexes. Applied in electrochemical studies, including plating processes, due to its redox properties. Utilized in materials science for developing platinum-based nanomaterials. Also employed in analytical chemistry as a standard for platinum quantification. Additionally, used in laboratory research on inorganic and coordination chemistry to study platinum ion reactions in solution.