Chelsea are expected to close a partnership agreement with Excelsior Mouscron before May.
Voetbal International says the two clubs are in negotiations, with an announcement expected to be made in the "next two weeks".
Chelsea would send their best non-European prospects to Mouscron to play in Belgium and eventually gain an EU passport.
This season, Vitesse Arnhem have had three Blues players on-loan, Wallace, Josh McEachran and Bertrand Traore. But only Traore is regarded as a first-choice.
This has forced Chelsea to look around for a new partner, with Mouscron now emerging as a top prospect.