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Erythrina variegata is valued as an ornamental tree. Several cultivars have been selected, including ‘Alba’ with white flowers.
In Vietnam, the leaves are used to wrap fermented meat.
E. variegata is known as dapdap in the Philippines where its bark and leaves are used in alternative medicine. In Siddha medicine, it is used especially for menstrual disorders and fissures at penis tip (Tamil: ஆண்குறிப்புண்).
E. variegata is often used in agroforestry systems. It can be used for fodder as its foliage has a good nutritive value for most livestock.
The seeds are poisonous in their raw state, but can be cooked and eaten. Along with the bark, the seeds were used to stupefy fish, making them easier to catch.