Lombard Systems
Lombard Systems provides financing infrastructure for tokenized securities through the Delivery-versus-Lock (DvL) standard, enabling institutions to offer collateralized loans and margin services without moving client assets. The software deploys on premises alongside existing custody and tokenization systems, supporting tokenized stocks, funds, bonds, and digital assets like Bitcoin and Ethereum.
- Financial Technology
- Blockchain & Cryptocurrency
- Web3 & NFTs
- Software Only
- Legal Technology
Funding
Raised to date
$4MRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
across 1 round
ACAFCVV$4M · Seed
Announced Nov 2026
Disclosed cumulative: $4M
Founders
Founder details are not available yet.
Product
Problem
While tokenization has accelerated asset settlement, the infrastructure supporting collateralized financing has largely remained unchanged. Traditional financing arrangements typically require borrowers to transfer collateral to lenders or third-party agents, with bespoke documentation and slow enforcement on default, preventing holders of tokenized securities from borrowing against them with the legal enforceability institutions require.
Solution
Lombard Systems created and maintains the Delivery-versus-Lock (DvL) standard, a technical and legal framework that lets institutions use tokenized and digital assets as collateral without transferring them from existing securities accounts. Under the standard, assets remain locked in the holder's name at a custodian, broker-dealer, or transfer agent, while the lender receives a legally enforceable security interest evidenced by a cryptographically signed Credit Receipt. The software runs on premises alongside existing key management, register, or tokenization infrastructure, with no inbound connectivity or access rights required. Institutions can deploy DvL on a white-label basis, offering financing and margin services to their clients as principal or through approved third-party lenders quoting by RFQ.
Target Audience
Primary customers are institutions that keep the record of client assets, including custodian banks, trust companies, broker-dealers, clearing brokers, transfer agents, and the issuers and platforms that work with them.
Features
- Delivery-versus-Lock (DvL) standard: a published, versioned, and licensed legal and technical framework for creating, evidencing, and enforcing security interests over tokenized collateral
- On-premises deployment that integrates with existing key management, register, or tokenization infrastructure without requiring inbound connectivity, access rights, or audit rights
- Support for multiple collateral types including tokenized stocks, ETFs, money market funds, bonds, private shares, and digital assets such as Bitcoin and Ethereum
- White-label capability allowing institutions and technology partners to present the capability under their own brand
- DvL IM Annex supporting initial margin for uncleared derivatives under existing ISDA Master and CSA documentation
- Cryptographically signed Credit Receipts evidencing lender security interests with pre-agreed enforcement terms