Serie A would be an "ideal destination" for Chelsea right-back Wallace, according to the player's agent.
Chelsea are looking to offload the Brazil Under-20 international on a season-long loan to enable him to gain more match practice, with Inter Milan, Roma and Napoli all having expressed an interest in the 19-year-old.
His agent, Frederico Moraes, says either of the three would fit the bill for his client, who is unlikely to find room in the Chelsea team this season.
"[Italy] could be an ideal destination for his growth and Wallace would be happy to move there too," Moraes told calciomercato.com. "I've got a meeting with the English club at the end of the week and we'll evaluate everything. The idea is to send him away on loan."
Inter are reported to be leading the hunt as their approach for Mauricio Isla of Juventus hit a snag, but Moraes says no official contact has yet been made.
"I've not spoken to Inter personally and I don't think Chelsea have either," he added. "I spoke with the Blues' management this morning and they didn't mention anything."
Chelsea signed Wallace from Fluminense last December, but allowed the defender to remain with the Brazilian club until the end of last season. He is currently on tour with Chelsea in Asia.