A Fidelity Investments subsidiary, launched a few years ago to let institutional investors store and trade bitcoin, plans to double its headcount this year as it predicts rising demand for cryptocurrency amid market volatility.

Fidelity Digital Asset Services plans to hire 110 tech workers, including engineers and developers with blockchain expertise, to build digital infrastructure to support services for cryptocurrencies beyond bitcoin, said Tom Jessop, its president. The subsidiary also plans to add 100 customer-service specialists.