Used as a catalyst in organic synthesis, particularly in reactions involving alkylation and acylation due to its strong Lewis acidity. It promotes carbon-carbon and carbon-heteroatom bond formations efficiently. Commonly employed in glycosylation reactions for carbohydrate chemistry, enabling the synthesis of complex sugars. Also utilized in halogenation processes where it activates halogen sources selectively. Its high solubility in polar organic solvents makes it suitable for homogeneous catalytic systems. Additionally, it serves as a reagent in the preparation of other triflate salts and in electrochemical applications due to its ionic conductivity.