Used as a reagent in organic synthesis, particularly in the preparation of guanidine derivatives for pharmaceuticals and agrochemicals. Acts as a source of guanidine in the synthesis of heterocyclic compounds. Employed in peptide chemistry to protect functional groups and assist in the formation of specific bonds. Also utilized in some biochemical applications for protein denaturation and enzyme inhibition studies. Its iodide component can participate in halogenation reactions under certain conditions.