Suilend will continue operating under its own brand on Sui, while Bluewater adds long-term capital and support; the deal also includes STEAMM and SpringSui, but excludes SEND.
Bluewater has completed its acquisition of Sui ecosystem lending protocol Suilend, including STEAMM and SpringSui, while Bluefin founder Zabi has said he will take over as Suilend CEO. Suilend will continue operating independently under its existing brand, roadmap and infrastructure, with Bluewater providing long-term capital and support. The transaction does not include SEND, which the existing team will manage separately. Earlier plans for the coming months included bringing in institutional capital, adding RWA (real-world asset) integration, deepening liquidity and launching new retail lending products on Sui. The deal underscores ongoing expansion efforts in Sui-based decentralized finance, where lending protocols compete on capital depth, asset breadth and user access.