Aha i found the solution.
I knew SetTransparentColor wasn't useless 
But you have to use SetTransparencyFromBitmap and the 2nd bitmap has to be your background, you can't just draw on.
SCAR Code:
program New;
var
Bmp, Bmp2: integer;
Canvas, Canvas2: TCanvas;
begin
Bmp := BitmapFromString(32, 26, 'beNqdVutTG9cVv/vSvnfvc3dlM' +
'EgCUyMhJPRCLxAvGUMwcQAzjm1iAwU/MAQbknGNMSAwsXGcyWSm03' +
'b6qZ3ONB/zH9IrnDaZ6fgDnNHu7J579Tvn/M7j7unpR5GAcvppMYD' +
'w/0ogip/aL4rg968CAH//6z+AKIcAkAGQJEUBv21QAfjc1ABoKoHI' +
'VwW+n/+ysgF+h8M1fJmvK0BYfrSmitpvSwL4+Z+/fDj588rGNxERB' +
'AC0AIVbOnMS3KbmDRQahkLekMoGKGlC1dL6ZNChg27uj3K2TQI3IR' +
'o1wYAm3ru7vLG+KwA5eznya6RA/de/f/nL335efvqsakhpCeREQTr' +
'Dv0Wda6Yy6cifQW3KDl2zQd0GQ5YwZICqAWqK0BNSBBE8xO59Zsx6' +
'0rRlzy3cu3V7gUeYvBL7iK8I4E2LvUXxmCkOqKCsgTgPEoRWk51zy' +
'NwdLL0YrO4VB+eIsFcpzjnOfnVge6D4rJYbcoVvK/nGcG0FqV8S9Y' +
'5rjRK1pIOEJnPMTNt//RfBt4G1SJ3ryPgMWlWtSUJcAivxzrso9LJ' +
'WeTFQe9yXWyDGq6H8LWy8Gi7tlIurueSYrR2Ui/tj1afEXAybc1CZ' +
'dkNDKohzRAH0dIab4ILcaLWfB+4aNh7g0A0sT0NU06SEDlb/EFtCc' +
'JGpf0p18Vi+ouodZMxDbYYbSqfXu6/esLQKBDt9XU8CYwmbC9ieR9' +
'YE1EdspbOZb/WMfGXLczY86yuqP/DMWWZMO9YEgpUQWCX2cveVpd4' +
'I55abXvaNB1BZcIwpz/rCC41b2lqieylxtWwKzwN7jZoPiHkX67NE' +
'n3KNgmFyCz2xDu7/ToB3qPnEV1eZPG+BeVefsPSqCx4x5VGANojz3' +
'LGI54YdDJnDWWoJCIP0pmVPIsBDqBviN2HrMdYWqXEHKnNQmifmsC' +
'K38FLnMYhgm7kvfPg1s9eIfpfTSM3PHa0WAuvEfHzJ9m3meg7zKcE' +
'QUv+PlgYhJIQFPiMETdrGGAIvAmsrDFc9c8U3F5g6i6QZV63oQJB4' +
'mRuUuShA3CWLQQ6CMSQ0YByRUkJdcqb0Cce3fYIJwh6DiGgEBy6/M' +
'MXIItgJaFPLiEcI4frm/2j41/4Sm42pAUXlnSaJzfZsZkd8XYj7HB' +
'iql6jnexhj6mH0JUEIW8xDYccLCKwz81W50qxmkZPBL1HmN1kEHEY' +
'AiVjHRxOJaHtvWzQVuZxt68i2R1Pt7XwaHOazz1qc7UuI2hQinYMj' +
'aK1SnXg2Z4Z65hQyX2a6dnpSqgx6Wlv7OmKZSFuuvS11uSUfjWQir' +
'b2xzk/NKEFUX/va177pOWFOFEMOD7iVBItUZpw+EzMKWzCZsputzT' +
'3vjXWdnkc4Q9+NDzwLs23P4mXDE+Fx7hFapgon10NshlgzVGmMDB2' +
'OVHk79UU7z4XPa+v92Mim7261uEf1wacIYt4OXsgjDsXscGRoEWlf' +
'MPtguPYyneLZSkWj58Ln2XpXSPPG2fTs1yPFH+q19YCte/Y605eJc' +
'TxcfjvWP0Nk3k276asXwAeiuldIvs33HWZSh+VsI5fbz3W9yZYa2Z' +
'5GMblbSO8V0rwAjrLpRu5i+OClj78r5o5yyW1fe+hbe/3dT4h+WMw' +
'0cvGHTL2Njb185qiUm4TKRfAVsO/TNWpvX6ZP2pxNYm0R+jSwH1F9' +
'GUkrzLrn6rNUmmbilGVdAF+UheNr5UMPfT9ePBkZ/bE+tI7R+/r4h' +
'g9/ul7bn7j27vrYfai/rw8c14cvlt/v+9Obl0ye3w/j9TeT5c2wu8' +
'n4mLKWXPWH0cEfJ0ZnoTHrWjwRF8CXJdAoZT/kCieF3HEp+76YPsl' +
'njouJk/7s20r+uL/5+q7Sd1TpeZu/SH3ywXeAYweF9EEpuemj5z7e' +
'7U9shuFhNn6Qi/MT4T42Gvnkq0LvTVvmDZyIxk7PKc1px2ed2PwcC' +
'QFRAUqoObbOpqEgCc2vEUWUVH6C9MSi/xtl55J8e6y/NcpP6viV9l' +
'SkpbetLRmLJDui/M6fs9FoJhbjz92RT5DzHxHS9IA=');
Bmp2 := BitmapFromString(31, 24, 'beNoBuAhH9ykY5iIW5yAZ6Rsb' +
'5BkT4RgO3hgL4SUI4iYL3iIF4yYG5SkG4i4L5zEM7zMG9DEF9jII+' +
'DIL+zUY8XAs8ZhE67pb18lgjbNGYaBFT55PMohHHW9BFWI4Ek0xE0' +
'gsFDYe5iEZ5h8a5xkb5RwV4h4S4SAP4i0O5zMS6TEL7DUN7DIL4D8' +
'T4kET5kUO6kUN70UR8UUT8T8b+XQz9ZBC7axQ4sFar8FVfK5NZKVR' +
'QY5GLXtLJG9EC0YmC0AiDy8X5ikV5ygV5yYV5y4Q5jQQ5zcO50kZ5' +
'lwd544w35462bBHv7JKuq1FtaI8w5ZDyI5Fy4dG3ntA42824HQz1X' +
'st1I8077hezsVmn7dXfK1RUJhOQYpFJnw/JXY+JWdD8DIQ8zcR6Dk' +
'C6D0J6T0P7kEX92st94497L5c18Vfgag+bKxYZqlZYqxhZqpdbqxZ' +
'drBbgalToLJgrrZhu7peycFfyMRgp8Bih7NccKpeUplhQopYKHlBI' +
'Gw7H1s36jES7zkU8UMR80kY8EUZ80cf/245/41G9bVU47tZpq9Gfa' +
'tRc6VMYJlIWI46W400YY81WZU/eKVUg6lWjK1UlK9SpbZQg7NQbLF' +
'UXLBbR6BgPpZcMoFULXVNHlQ65DAV6jcX8D8W80Ma7UAY7kAb7k0h' +
'62Um7Y027J9D371cwMVfusBeqLdanaxPnKpJn6tJkqhToLJmpbVqq' +
'bdqqrdnnLdYa6tLV6xPSqxVNpVRM41PJnJMJGdIHEs57SIU8yUY9S' +
'UZ9Dca8EAX8kob4o4u4qU74cJYzLxamrFWja9bjK9bf6xba6thXaZ' +
'hUaBfVJ5RTJZbS5RfSpNeSJJdT49bSZpgRJ9kQ6VoPZ1gNZNXM4NO' +
'J3NCE04i5yIR7ycY8Csb6kAc5k4c6V0g7LVR6sZY28lZw7xRjaZBi' +
'6xViqtUeKJMW55RR5dSOY9OOI1UL3tVLnVTLXJTMHFRLnZRNIBZPI' +
'pgPpFjOJVgN5VgP5JkP45hMHdN7TAa8zQh7TIf4Ekc3Vsd4mwk7LN' +
'Z6L9W4MBT28BXyMZhwrxcwrxasbVUjK1WdaFSYZdMQJtiLXdSKWxL' +
'KmdILmdHKmhRL2dOOXFUPHdXOINYQZBhLIBcLH5aN4Nf7zUp7TIh6' +
'z0Y32Ml4H415ZRF0blL071N0L1Hy7c+0bk/v7U5y79HzcFdrshtiL' +
'tfZaZKQbNeMYlMMHpJLWtEKV5ALFBEMF1JK2BGLGlKKHNKLntPJHN' +
'UJm9UMnJX4aA86LFK1sRWoaxGna5OorVbvLdjy7ln5L9u4sBp1L1g' +
'srNWpq9SgapOXp9FTpQ+RIw4LH42GUgSGjkNHi4KJSoMKSkREyILD' +
'iYQDSgVHS4kKjcwLEE8MElGMk9K7rtS6r5T3LxV0K1Z06lh1aVl3K' +
'Bk4ZZd6YxT6I5S35BN6YpK4YxJ1JtUxp5YwZhWv5ZUqZhTjY1HeoE' +
'7YXEqTWMaR0gPKjsEIDgEFDQCFTYLGzsSFi0ZFTAfIT8z8ZxM75pK' +
'55BD5nlB4WY62lg05U4z5EQq4jcb4jcZ2zcS5DAV4jUX3EMh3Usm3' +
'0op4Eop41Yp34FE141MypZNv5pMqJJGjIM4eXswYXEmPWYaL10SKk' +
'YWGz4UEz4i4koj40si20AU3jQT4jAW4iwX5ycY5yYV6CQO7ScN6iQ' +
'J3ykR4S0U3TAS3i8Q3y0P3isL4igR1zQT1T0W00Yb1E8i0XIw2oVE' +
'1pBLx5dNqqlWlaNLcY1DU307Kmo44CkX4DAH3TcF4FEV41sf5V4e5' +
'10e5VoZ5FQV3koK3U0b4U8e4U8g010f020l34I116lH2LRUl7VfeK' +
'lYZKBWWKRkU59fUqBmSZhfQpJdQJBdQZFeRY9aPH5QOnhR7ycq6jA' +
'k4zQf2z4f2kEf4D0u4EEu3EQt2Est1VErzl0hz2Ei0mknzJFByKBL' +
'yqxWprdxmLJrVpdXSZNWQ5JZRJJiPIhaQINaPnxXP3VVO3FROW5QL' +
'mVGLGFHKltFz2Y2wmg0u2kxtW4utnEwvnk0v3s0wXwxx3stz4Iww5' +
'FIxZRIx5xNo6pakalbhapdZ5NYX49VQH9QPHpRN3RSO3dVMmtKNmR' +
'INWBFPFxFO1hCOFNAK008J0s9KEg7aplIZJNNY5FQbJNUcZNWc51H' +
'eaBHgaJHkKVGo7FQoK1lnKpfmKlZZpZKUpFLRItJTno/S3g/NWU/M' +
'l9ANFxCKVU8IEoyJkcyKUYyMkc0MUYzNEI1LUc8I0I6JD41h5IyW3' +
'0xSHIyOWYtN2QrOGRDO2pGP3RIRIVLV59deqBVhKRRn7BUvrBNu6x' +
'PsqJKpadUlptLWHI1SmUyPVgtHEYwFkAqIEYvHkQrIUUrIUMqJz4q' +
'GkAxFUU3G0Y12zcR11Ee11Yf2nEw3YA7zplXyKZewLBitLNgtq9ez' +
'bVb1Llg3bpg2ahJ1KdC0aZA25w73KtF0bZdwbVjqrVmZqJaXJpXSZ' +
'BYO4VSNn5QNXpLMm9FN3FIMmtCLWY93SgL3TQV3C8R2TkX3kom3nE' +
's4I0/4KZS1btc07pd0b1e0Llb07ZY17ZV1LdT07dT36tI2rBMuapN' +
'nqRMf6NLVJ9NSJZKQ5RZO45YPotdQItgQ4VVQ4VVRoVWRIJT2y0V2' +
'TAb1ysX0DQd0EAm0GUd1IM01J5Iy7hZzL1exr9kxLldxrVZ1bFR1q' +
'5O2a9N37JN2bZOvbdVm6xMcqRBS5pHPI1ANYZLLnxMLHBJLnBMMGh' +
'DLWVAM2lFNGhE5VQb4GMg6HIq6J5F3KhFwKxWrKtRmqtPkrBWobll' +
'rLhmsLlmtrplv59Kw5ZByJRAs6JKrKlMnLNZjK5YbKBNQ4pONHtDJ' +
'2hAIVg5HUMqHT0mHDEsFSgkGSkmGion6CYd7D0i7Uch5HUw5Y4/46' +
'5E17VJzLxNurZLr6E+oKU/m6dDjKhEaaRQYaBRW5lOXZBYTZFUK4N' +
'HNoZTLHpQJHlQHHFKGWJFG1lAK1M7KEoxJTwqIjknGi8eFIOivfA=' +
'');
SetTransparencyFromBitmap(Bmp, Bmp2);
Canvas:= GetBitmapCanvas(Bmp);
Canvas2:= GetDebugCanvas;
DisplayDebugImgWindow(100, 100);
//drawing the background
Canvas2.Brush.Color:= 255;
Canvas2.Pen.Color:= 255;
Canvas2.Rectangle(0, 0, 25, 100);
Canvas2.Brush.Color:= clBlue;
Canvas2.Pen.Color:= clBlue;
Canvas2.Rectangle(25, 0, 100, 100);
SetTransparentColor(Bmp, 16777215);
FastDrawTransparent(0, 0, Bmp, Bmp2);
SafeDrawBitmap(Bmp2, Canvas2, 10, 10);
FreeBitmap(Bmp);
FreeBitmap(Bmp2);
end.