This compound is primarily used in biochemical research as a reagent for studying enzyme reactions and protein interactions. It serves as a stabilizer or activator in certain enzymatic assays, helping to maintain the activity of specific enzymes under experimental conditions. Additionally, it is employed in the synthesis of organic compounds, particularly in the development of guanidine derivatives, which have applications in pharmaceuticals and agrochemicals. Its role in these processes is crucial for advancing studies in biochemistry and medicinal chemistry.