Used primarily in research and catalysis, this platinum-based compound serves as a precursor for synthesizing other platinum complexes. It finds application in homogeneous catalysis, particularly in reactions involving carbon-carbon bond formation. Due to its reactivity and metal center, it is also explored in materials science for developing conductive films and optoelectronic devices. Its role in academic and industrial laboratories is mostly confined to specialized reactions where platinum in the +2 oxidation state is required.