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Preheat the oven to 350 F. Prepare muffin pan lined with paper liners. Set aside.
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In a bowl, add softened butter and sugar – beat using an electric mixer or wire whisk. Add eggs and beat again. Add condensed milk and vanilla, then mix again.
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Put a strainer over the bowl with wet ingredients. Add cake flour, baking powder and salt – sift. Mix well, but do not overmix.
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Add 2/3 of the cheddar cheese and mix again.
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Using an ice cream scoop or spoon, divide the batter into the prepared paper-lined muffin pan, 2/3 full.
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Add about ½ tbsp. of ube jam on top of the batter and swirl around using a toothpick. You can add it to only 6 cupcakes just like what I did, so I have the plain ones and the ones with ube – it’s up to you.
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Top with the remaining cheddar cheese.
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Bake for 20-23 minutes or until a toothpick inserted in the middle comes out clean.
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Remove from the oven and cool in the muffin pan for 5 minutes before moving to a cooling rack.