This compound is primarily utilized in biochemical research, particularly in the study of metal ion chelation. Its structure allows it to bind effectively to various metal ions, making it valuable in investigations related to metalloproteins and enzymes that require metal cofactors. Additionally, it is employed in the development of chelating agents for potential therapeutic applications, such as in the treatment of metal overload disorders. Its ability to form stable complexes with metals also makes it useful in analytical chemistry for the detection and quantification of metal ions in complex mixtures.