Rather than thinking of blood as a substance in itself, think of blood as water that circulates round the body that various parts of the body find a convenient way of transporting stuff around in.
In addition the the red blood cells needed to move oxygen, and the platelets needed to stop up leaks, the blood is used for all sorts of things.
The digestive system cuts up your food into tiny pieces that can migrate into the blood stream. Not all that much happens to complex compounds here, they pretty much just get dumped into the blood. They get transported to parts of the body where they can be used - with a lot of processing occurring in the liver, as well as being directly used by cell mechanisms.
The liver’s job is to process the blood in many ways, it breaks down stuff with a whole raft of mechanisms, it also dumps stuff into the blood, for use by the body. The liver will also dump some junk into the bile (bile is mostly needed for digestion) but some junk will be eliminated in the faeces by this route, or reprocessed usefully, and digested as if it were food. Dead blood cell bits especially go this way.
The kidney’s job is to regulate the composition of the blood and to filter out a whole raft of junk dumped in there by the liver and the rest of the body as it operates. The kidneys can’t do this with perfect efficiency, so along with the junk, the kidneys do pass useful stuff as well. So you need to replenish them - which includes water, electrolytes, and quite a other of other compounds.
Other bits of the body find the bloodstream a convenient way of communicating with the body as a whole, so they dump various hormones and the like in there on the basis that some will eventually find its way to the think it wants to control. So pituitary, pineal, adrenals etc don’t do much other than this, whilst kidneys, testes/ovaries and the like have multiple roles but also use the bloodstream as a way communicating their desires. This is how the kidneys are involved in the control of blood pressure.
In addition, the immune system finds the blood a useful way of transporting its agents to where they are needed, and finding out what it needs to be working on.
Rather ignored, the lymph system is a second system that has a lot of parallel roles to the bloodstream, but it doesn’t circulate in the same manner, rather being more of a drainage system, but a critical role in the immune system.
So as noted above, urine doesn’t really travel anywhere except from the kidneys out. Rather it is the mix of stuff the kidneys have extracted from the blood. Most of which is usefully extracted as waste.