Widely used as a catalyst in organic synthesis, particularly in cyclopropanation and C–H bond functionalization reactions. It promotes the decomposition of diazo compounds to form carbenes, which readily insert into C–H bonds or add across double bonds, enabling efficient construction of cyclic structures. Its high selectivity and activity make it valuable in pharmaceutical and fine chemical industries for synthesizing complex molecules. Also employed in asymmetric synthesis when combined with chiral ligands, enhancing stereocontrol in the formation of chiral centers. The trifluoroacetate ligands offer good solubility in organic solvents, improving catalytic performance under mild reaction conditions.