Medicinally it is used for anxiety and insomnia, I can't remember what parts are used for what though. I do seem to recall that they tincture it as well and use it as a homeopathic treatment. It is fairly popular in the European markets. You can also eat the fruit (Maypops).
I have several of these and have never figured out how you can eat the fruit. It's really not very appetizing looking, not much inside except seeds. If anyone knows anything about this, I'd love to hear it.
I am amazed mine is surviving the winter here in the Piedmont! It looks healthy even now; we will see if it flowers in spring/summer! I love these plants.
http://www.eattheweeds.com/maypops-food-fun-...