Used as a macrocyclic ligand in coordination chemistry, particularly for stabilizing transition metal ions in catalytic systems. Its structure allows selective binding of metals like copper, nickel, zinc, and cobalt, making it useful in homogeneous catalysis, the development of metal-based sensors, and organic synthesis processes. Also employed in the design of contrast agents for MRI due to its ability to form stable complexes with paramagnetic ions, as well as in nuclear medical imaging with suitable radioisotopes. Additionally, derivatives are explored in medicinal chemistry for targeted drug delivery—leveraging modifiable water solubility and biocompatibility—and as enzyme mimics in biomimetic studies.