The 21-year-old made his debut for the Colombia national team in the recently friendly draw with Tunisia after impressing in Argentina.
Balanta has been among the names touted as a potential replacement for Carles Puyol, after the veteran defender announced his intentions to leave the La Liga champions at the end of the season.
The youngster insists he is unaware of any approach from Barcelona, but says that it would be an appealing move for him.
"I haven't received any proposal but of course I would very much like to continue my career in such an important team," he told Sport.
"I wish that they want me. I would have a big dream of playing at Barcelona."