Preheat your oven to 350°F (175°C). Grease and flour an 8x8-inch baking pan or line with parchment paper.

In a large bowl, whisk together sweetened condensed milk, melted butter, eggs, and vanilla until smooth.

In a separate bowl, whisk flour, baking powder, and salt. Gradually add to the wet ingredients and mix gently, avoiding overmixing to keep the cake light.

Pour the batter into the pan and smooth the top. Bake for 30–35 minutes or until a toothpick comes out clean. Let the cake cool in the pan for 10 minutes, then transfer to a wire rack to cool completely.

Whisk powdered sugar, milk, and vanilla until smooth. Drizzle over the cooled cake for extra sweetness.