Alchemy Pay Adds Fiat On-Ramp for Hedera

1. Alchemy Pay Enables Fiat On-Ramp for HBAR and USDC on Hedera

Singapore-based payments provider Alchemy Pay has integrated Hedera’s HBAR and USDC (on the Hedera blockchain) into its fiat-to-crypto on-ramp. The newly added functionality allows users to buy these assets seamlessly with credit cards, bank transfers, and local payment solutions, significantly boosting accessibility.

Key Points

• Broader Support: Besides HBAR, Alchemy Pay also services popular cryptocurrencies such as Bitcoin and Ethereum. It has recently extended on- and off-ramp support for Movement token and the Ledger Live platform.
• Strategic Partnerships: Alchemy Pay’s network includes heavyweights like Visa, Mastercard, Nuvei, and Apple Pay. The firm’s alignment with the HBAR Foundation aims to support Hedera’s expanding presence in real-world asset tokenization and AI-related markets.
• Hedera Ecosystem Growth: The initiative supports Hedera’s ongoing push into decentralized finance (DeFi), regulated security tokens, and non-fungible tokens (NFTs). Hedera’s development team has also proposed new features—like native scheduled transactions—to unlock advanced dApp capabilities.

Outlook

By streamlining the purchase of HBAR and USDC on Hedera, Alchemy Pay removes friction between traditional finance (TradFi) and crypto. This move may further enhance adoption of Hedera-based applications in real-world use cases, including asset tokenization and cross-border payments.

2. Genius Group Forced to Sell Bitcoin After Court Order

AI-driven education company Genius Group has revealed it must offload part of its Bitcoin holdings due to a U.S. District Court order, which halted the firm’s ability to raise funds or further pursue its BTC-focused treasury strategy.

Court-Imposed Constraints

• Restraining Order: A preliminary injunction from the Southern District of New York, dated March 13, prevents Genius Group from issuing shares, raising capital, or buying Bitcoin, effectively blocking the firm’s “Bitcoin-first” plan.
• Reduced BTC Holdings: As a result, Genius Group sold down its Bitcoin from 440 BTC to 430 BTC to finance operations. CEO Roger James Hamilton expressed dismay that a U.S. court could restrict a public company’s financial decisions at this scale.

Legal Disputes and Next Steps

• Asset Purchase Agreement Row: The conflict traces back to Genius Group’s attempt to terminate an Asset Purchase Agreement with Fatbrain AI. Multiple lawsuits and SEC shareholder fraud allegations have emerged from the dispute.
• Operational Strain: The court order prevents Genius Group from raising capital or compensating employees with shares, forcing cost cuts and closures. The company has filed motions to lift the injunction, with an emergency appeal underway.
• Bitcoin Commitment: Despite the partial BTC liquidation, Genius Group maintains faith in Bitcoin’s long-term value, underscoring that once the legal battle resolves, the firm aims to reestablish its crypto-forward treasury strategy.

Implications

The incident spotlights how sudden legal constraints can disrupt a company’s strategic pivot to cryptocurrencies. Observers note that while regulatory moves remain vital for investor protection, abrupt restrictions risk undermining legitimate corporate decisions—especially as more public firms adopt digital assets.

These developments underscore the evolving relationship between traditional finance and crypto. On one hand, Alchemy Pay’s collaboration with Hedera highlights progress in making digital assets more accessible. On the other, Genius Group’s forced Bitcoin sell-off exemplifies how legal and regulatory uncertainties can upend corporate crypto strategies. As regulatory scrutiny and court rulings continue shaping the landscape, market participants will watch closely to see whether adoption trends overshadow near-term headwinds.