Dubbed Pokemon Home, this is as its name implies, a home for your Pokemon. This is different from the 3DS version dubbed Pokemon Bank which only stored your Pokemon locally. However, with Pokemon Home, gamers will be able to transfer their Pokemon from device to device, such as through their mobile devices. This will allow gamers to trade Pokemon with each other locally and globally, the latter of which was impossible before.
So far, the Pokemon games that will support Pokemon Home include Pokémon Go, Pokémon Bank, Let’s Go, Pikachu!, Let’s Go, Eevee!, and Pokémon Sword and Shield. However, we should note that the latter two games will only support you moving Pokemon to it, instead of taking from it. As Polygon notes, this could be because it will help avoid confusion with older Pokemon generations.
Unfortunately, there was no mention of pricing of Pokemon Home. Pokemon Bank is priced at $4.99 a year so we imagine that Pokemon Home will most likely not be free.