Lombard Systems, which raised $4 million, pushes for tokenized securities collateral

Lombard Systems raised $4 million across pre-seed and seed rounds led by Ethereal Ventures, with ALPS Capital, First Commit Capital, Veris Ventures and ATKA participating. The company builds tokenized-securities finance infrastructure and maintains the Delivery-versus-Lock (DvL) standard, which lets institutions pledge tokenized securities and digital assets as collateral while they remain in existing accounts. The raise matters because it funds efforts to bring collateral treatment of tokenized assets into mainstream financial workflows. Next, watch for financial institutions to adopt the DvL standard and for the company to disclose which chains and asset issuers it supports.