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