The SPFL League One leaders turned down bids - the last believed to be worth £900,000 - from Championship club Nottingham Forest for the player last month.
However, the Gers rejected every offer from Forest for the player who has been their outstanding performer throughout the 2013/14 campaign.
The left-back, whose current deal runs until 2017, has now told how he would have remained at the Glasgow giants even if they had been prepared to let him go.
He said: "I am under contract here and if the bids had been accepted then obviously the final decision would have rested with me.
"It wouldn't have been the best of scenarios for me. But I know what I would have done if that had happened. I would have stayed.
"The transfer window was not an easy time. It is always hectic in January. Things can move quickly and things can happen late on.
"I did always think the club could have agreed to sell me especially when the bids came in. But, obviously, with the club rejecting them I was happy.
"I am still here, we have got some big games coming up and we are going to have a right push now for the title. We have got a big future ahead of us."
Wallace's stance is interesting given that, in light of off-field developments this week, it is not inconceivable the club could try to offload him in the future.
The defender is without question their most saleable asset and would be the likeliest to be sold to generate income if it was needed in the future.
News broke this week that officials are locked in talks with two investors about a £1.5 million loan.
That development has led to speculation among concerned fans that Rangers are set to go into administration for the second time in two years.
Those rumours have been "categorically" denied and branded "ill-informed" for the second time this month by Rangers chief executive Graham Wallace
But his name-sake in the Ibrox defence, who will line up against Stenhousemuir in a league game at Ibrox this afternoon, stressed the latest unrest has not unsettled the players.
He said: "I doubt we'll even talk about it in the dressing room. There will probably be wee bits of chat here and there, but nothing too alarming that we will be having meetings or anything like that.
"We have a massive game this weekend that we will look forward to and try to win in order keep our unbeaten run going. All our focus will always be on the training field and out on the park on match days."
Wallace has admitted he was disappointed to this week be left out of the Scotland squad for the international friendly with Poland in Warsaw at the start of next month.
But he stressed he would not give up hope of being involved with his country in their Euro 2016 qualifiers.
He said: I will not get too downbeat or go in a huff. I will remain positive.
"I've been in this situation before, when I've been in a couple of squads and then been left out.
"I'll never give up hope. I've been faced with obstacles in the past with the managers saying it would be difficult to call guys in at this level, but I've always stayed focused.
"I managed to get back in a couple of squads with the new manager (Gordon Strachan), and he's always been an advocate of if you're doing well, no matter what level you're at, you'll always have a chance.
"First and foremost, I'll always focus on what I'm doing here and do as well as I can for Rangers. It's a bonus what happens after that."