Place a large mixing bowl and whisk attachment or a metal bowl for hand mixing in the freezer for 15 minutes to chill. This helps whip the cream faster.

In a separate medium bowl, whisk together the chilled sweetened condensed milk and vanilla bean paste until well combined.

Remove the chilled bowl and whisk from the freezer. Pour in the cold heavy cream.

Whip the cream on medium-high until stiff peaks form.

Stir ⅓ of the whipped cream into the sweetened condensed milk mixture to lighten it up.

Gently fold in the remaining whipped cream until no streaks remain and the mixture is well combined. Be careful not to deflate the whipped cream.

Pour the ice cream mixture into a freezer safe container with a tight fitting lid and freeze for at least 6 hours or until firm.