Widely used as a chelating agent in medical and biochemical applications, this compound effectively binds multivalent metal ions such as calcium, magnesium, and transition metals. It is particularly valuable in assays requiring the control of metal ion concentration, helping to inhibit metal-dependent enzyme activity. Due to its high selectivity and stability with certain metal ions, it serves as a key component in buffer systems for cell lysis, nucleic acid purification, and protein extraction. Its structure allows for enhanced solubility and compatibility in aqueous-based solutions, making it suitable for use in diagnostic reagents and research tools involving metal ion regulation.