Inter have now officially taken Wallace on loan from Chelsea after he passed his medical.
The move had been in the works for several weeks, but was finally completed on Tuesday evening.
A statement on the Inter website confirmed Wallace Oliveira dos Santos had signed the contract, securing a one-season loan from Chelsea FC.
The 19-year-old started his career at Fluminense before moving on to Chelsea, but would not find playing time in Jose Mourinho’s side.
Nominally a full-back, the Brazilian will play as a wing-back in Walter Mazzarri’s tactical system.