Tokenized securities financing infrastructure provider Lombard Systems (formerly SemiLiquid) has completed a $4 million seed funding round led by Ethereal Ventures. The round also saw participation from ALPS Capital, First Commit, Veris Ventures, and ATKA. Lombard Systems maintains the "Delivery versus Lock" (DvL) standard, which enables banks, brokers, and transfer agents to accept tokenized and digital assets as collateral without moving them from their original securities accounts. Under this framework, assets remain locked in the owner's name while lenders receive an enforceable security interest evidenced by a cryptographically signed credit certificate.