Preheat the oven to 350°F (175°C). Grease and flour a 9-inch round cake pan.
In a mixing bowl, cream together the softened butter and sugar until light and fluffy.
Add the eggs one at a time, beating well after each addition.
Mix in the Biscoff Lotus spread and vanilla extract.
In a separate bowl, combine the flour, baking powder, and salt.
Gradually add the dry ingredients to the wet ingredients, alternating with the milk, and mix until just combined.
Pour the batter into the prepared cake pan and smooth the top.
Bake in the preheated oven for 30-35 minutes or until a toothpick inserted into the center comes out clean.
Let the cake cool in the pan for 10 minutes, then transfer to a wire rack to cool completely.